Profits earned by China's industrial firms increased by 13.6 percent year-on-year to CNY 5.52 trillion in the first ten months of 2018, easing from a 14.7 percent rise during the January to September period. Profits earned by state-owned enterprises surged 20.6 percent and those earned by private firms went up 9.3 percent. Among the 41 industries surveyed, 34 posted year-on-year profit. Coal mining and washing industry; oil and natural gas mining; agricultural and sideline food processing; chemical raw materials & chemical product manufacturing; non-metallic mineral products industry; and ferrous metal smelting and rolling processing industry were among the main drivers of profit growth. Meanwhile, there were declines in profits for non-ferrous metal mining and processing industry; other mining industry; and automotive manufacturing. Considering October only, industrial profits rose by 3.6 percent to CNY 548.0 billion, compared to a 4.1 percent gain in September. Corporate Profits in China averaged 1566550.51 CNY Million from 1996 until 2018, reaching an all time high of 7518710 CNY Million in December of 2017 and a record low of 1617 CNY Million in February of 1998.
Corporate Profits in China is expected to be 7700000.00 CNY Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Corporate Profits in China to stand at 4372988.05 in 12 months time. In the long-term, the China Total Industrial Profits is projected to trend around 8250000.00 CNY Million in 2020, according to our econometric models.