In 2023, the ferrous metal smelting and rolling sector in China recorded a gross profit of RMB 56.48 billion ($7.95 billion), up 157.3 percent year on year, as announced by China's National Bureau of Statistics (NBS) on December 27.
The automotive sector recorded a gross profit of RMB 508.63 billion ($71.6 billion) in 2023, up 5.9 percent year on year.
At the same time, the ferrous metals mining and dressing sector, the metal manufacturing sector and the railway, shipping, aerospace and other transportation equipment manufacturing sector recorded gross profits of RMB 55.45 billion ($7.8 billion), RMB 190.31 billion ($26.8 billion) and RMB 89.38 billion ($12.6 billion) in 2023, up 6.7 percent, up 4.5 percent and up 22.0 percent year on year, respectively.
In the given year, the aggregate gross profit of large and medium-sized industrial enterprises in China amounted to RMB 7.68583 trillion ($1.1 trillion), down 2.3 percent year on year, 2.1 percentage points slower than the decline recorded in the first 11 months of the year.
$1 = RMB 7.1097