MNI 5 THINGS: China Nov Industrial Profits Decline on Slowdown

     BEIJING (MNI) - Here are the five things MNI highlights from the data

released by the National Bureau of Statistics Thursday. 

     - November industrial profits fell 1.8% y/y, a first y/y decline since

December 2015. This compared with October's 3.6% y/y gain. Accumulated profits

for Jan-Nov rose by 11.8% y/y, down from 13.6% y/y in Jan-Oct.

     - The drop in November was mainly caused by slowing production and sales,

increasing cost, and lower price gains of ex-factory prices, NBS said.

     - For the first 11 months, profit gains mainly came from five industries

such as steel (+50.2%), construction materials (+44.2%), special equipment

manufacturing (+21%), the chemical sector (+19.1%) and crude oil extraction

(+3.3times), NBS said.

     - In Jan-Nov, industrial enterprises paid CNY92.56 of costs and fees for

every CNY100 income from their main business. The costs and fees fell by CNY0.21

from a year earlier, the NBS said.

     - By end-Nov, the debt-to-asset ratio of large-scale industrial enterprises

tracked by the NBS was 56.8%, down 0.4 percentage point y/y. The ratio of

state-owned enterprises (SOEs) was 59.1%, down 1.6 percentage points y/y.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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