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Chinanews, Beijing, Nov. 24 – Over the past ten years, Chinese industrial companies' profit-making capabilities1 have greatly improved. In a sense, it can be said that Chinese industrial companies have shifted from a time when they could make meagre profits to one when they can generate fairly large profits, said the Chinese Academy of Social Sciences in its latest issue of the 2007 Chinese Companies Blue Paper.
The main content of the blue paper is a report titled "Chinese Companies' Competitive Edge in 2007 – Companies' Profit-making Capabilities and Their Competitive Edge". In this report, it is said that industrial companies' profits have greatly increased, and this is not because they have used financial leverage2, but rather because Chinese companies profit-making capabilities have actually improved. Over the past few years, the total profits made by industrial companies have increased substantially. Information shows that during the first eight months of this year, the profit made by all industrial companies that have a certain scale increased by 37% over the same period last year, and the growth rate increased by over 20 percentage points. In fact, since 1998, industrial companies profits have always grown at a fast rate. In 1998, the total profits made by state-owned companies and companies with a certain scale reached 150 billion yuan, while in 2006, such figure exceeded 1.8 trillion yuan. All this information shows that Chinese companies have entered into a fast track in terms of profit-making capabilities.
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