Profits earned by China's industrial firms rose by 10.3 percent from a year earlier to CNY 6.64 trillion in 2018, easing from 2017's robust pace of 21 percent. Profits earned by state-owned enterprises increased 12.6 percent and those earned by private firms went up 11.9 percent. Among the 41 industries surveyed, 32 posted year-on-year profit. The main contributors to the rise in profits were the extraction of oil and natural gas, the non-metallic mineral products industry, the smelting and rolling of ferrous metals and chemical raw materials and their manufacturing. Meanwhile, there were profit losses in non-ferrous metal smelting & rolling processing industry; automotive manufacturing; and computer, communications and other electronic devices. Considering December alone, industrial profits fell 1.9 percent to CNY 680.8 billion, the second straight month of decline. Corporate Profits in China averaged 1633594.45 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 1720000.00 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 8200000.00 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.