Chinese township businesses report 13.8 percent profit growth

China's township businesses reported 470.6 billion yuan (approximately 57 billion US dollars) profit in the first half of this year, up 13.8 percent over the same period last year, according to the Ministry of Agriculture.

The latest statistics from the bureau of township enterprises show that these businesses realized 2,018.6 billion yuan (about 243 billion dollars) of value added in the first half of this year,up 13 percent over the same period last year. Their business revenue reached 8,261.3 billion yuan (some 995.3 billion dollars) in this period, up 13.2 percent year-on-year.

Chinese township enterprises delivered 757.7 billion yuan (about 91.3 billion dollars) worth of goods for export in the firsthalf of this year, up 21.6 percent year-on-year, according to the statistics.

The bureau predicts Chinese township businesses will realize a 12 percent growth in value added over the whole year.

Source:Xinhua