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China’s plastic industry logs higher profits in Jan.-Oct.

Abstract : China's plastic industry registered a profit increase in the first 10 months of the year, data from the Ministry of Industry and Information Technology (MIIT) shows.

BEIJING, Dec. 13 (Xinhua) — China’s plastic industry registered a profit increase in the first 10 months of the year, data from the Ministry of Industry and Information Technology (MIIT) shows.

Manufacturers of plastic products raked in total profits of 93.77 billion yuan (about 14.34 billion U.S. dollars) in the January-October period, up 18.8 percent year on year, according to the MIIT.

The total operating revenues of these companies went down 2.7 percent from last year to around 1.5 trillion yuan during the period.

MIIT data also shows that the national output of plastic products stood at 60.76 million tonnes in the first 10 months, decreasing 6.2 percent year on year.

Bucking the downward trend, output rose 3.6 percent year on year in October to around 6.87 million tonnes. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s plastic industry logs higher profits in Jan.-Oct.

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