Production, Sales and Profits of State Key Enterprises Continued to Grow from January to April 2003

1. Production and sales grew while the growth rate fell.

   The gross industrial output value (constant price) rose by 25.7% to reach 916.72 billion yuan, with the growth rate down 2.1 percentage points from the first quarter but up 12.4 percentage points year-on-year. The production scale in the electronic, automobile, machinery and medical sectors was relatively large, and the growth rate was above the average level of state key enterprises.

   The revenue from main business increased by 31.3% to reach 1.3292 trillion yuan, with the growth rate down 1.9 percentage points from the first quarter but up 26.3 percentage points year-on-year. Four sectors, namely metallurgy, petrochemistry, oil and automobile, realized revenues of more than hundreds of billions of yuan and the above-the-average growth rate.

   The ratio of marketing to production was 97.7%, unchanged from the first quarter, but decreased 0.3 percentage point year-on-year. The stockpile of finished products valued at 221.41 billion yuan, an increase of 3%. The textile, oil and metallurgical sectors saw a quick climb in finished products with the growth rate over 17%.

2. The export growth accelerated.

   A survey over 346 key enterprises with export business showed that the export delivery value rose by 34.1% to reach 84.11 billion yuan, with the growth rate 6.1 percentage points higher than the first quarter and 24 percentage points higher year-on-year.The electronic sector took the lead in export delivery, valuing at 34.17 billion yuan, which accounted for 40.6% of all key enterprises, an increase of 28.9% year-on-year.

3. Profits continued to increase rapidly.

   The profits achieved were 122.78 billion yuan, a change from 18.4% decrease in the same period last year to an increase of 87.7%, with the growth rate down 36.2 percentage points from the first quarter.

   In terms of sector, telecommunication, oil, automobile and metallurgical sectors achieved profits of more than tens of billions of yuan. Among them, the profits of telecommunication sector rose by 16.4%, while those of the other three grew at double speed.

   In terms of enterprise, the number of profit-making enterprises by the end of April was 395, of which 90 managed to make a profit of more than 100 million yuan each. Their combined profits were 120.76 billion yuan, accounting for 98.4% of that of all key enterprises.

4. The losses of loss-making enterprises continued to decline.

   By the end of April, 106 out of 501 enterprises suffered losses, a decrease of 17. The losses were reduced by 17.6% to value at 6.22 billion yuan.

   In terms of sector, the transportation sector, which suffered most due to the SARS crisis, experienced an increase of losses from decrease in the first quarter. The losses of loss-making enterprises valued at 2.76 billion yuan from January to April, an increase of 540 million yuan year-on-year. The losses in April alone were 1.4 billion yuan, 2.1 times as many as those in the first quarter.

5. The composite indexes of industrial economic returns improved substantially.

   The composite indexes of industrial economic returns were 159.9, up 31.5 percentage points year-on-year. Among category indexes, the aggregate asset contribution rate were 10.2%, up 2 percentage points; the asset preservation and increment rate was 120.5%, an increase of 12.3 percentage points; and the liabilities to assets rate was 51.8%, down 0.8 percentage point.