Hey there! 📢 Let’s talk about what’s happening with big factories in China, also known as the Chinese mainland.
In the first five months of this year, the profits of China’s major industrial companies went down a little bit—just 1.1%. That means they made slightly less money than they did during the same time last year.
But don’t worry! Some parts of China’s industry are doing really well. For example, companies that make equipment like machines and tools actually earned 7.2% more profits than before! That’s great news because these machines help make lots of things we use every day.
Why did profits go down overall? Experts say it’s because there wasn’t enough demand (that’s people wanting to buy things), and the prices of industrial products went down.
Also, big industrial companies made a lot of money in total sales—over 54 trillion yuan! That’s a huge number! So even though profits dipped a bit, the overall sales went up by 2.7%.
And guess what? Experts think that as the year goes on, profits will start growing again! 🎉
Reference(s):
cgtn.com
