China's Chemical Raw Materials and Chemical Products Manufacturing Sector Posts RMB 213.39 Billion in Profits in Jan–Jul 2025

On August 27, China's National Bureau of Statistics released data showing that in the first seven months of 2025, industrial enterprises above designated size achieved a total profit of RMB 4.02035 trillion, down 1.7% year-on-year (YoY). Among them, the petroleum and natural gas extraction sector recorded a total profit of RMB 208.7 billion, down 12.6% YoY, while the chemical raw materials and chemical products manufacturing sector posted RMB 213.39 billion in profits, representing a decline of 8.0% YoY.

From January to July, state-owned holding enterprises achieved a total profit of RMB 1.28234 trillion, down 7.5% YoY. Joint-stock enterprises recorded RMB 2.97425 trillion, down 2.8% YoY. Foreign-invested enterprises, including those from Hong Kong, Macao, and Taiwan, achieved RMB 1.02167 trillion in profits, up 1.8% YoY. Private enterprises posted RMB 1.11837 trillion, also up 1.8% YoY.

By sector, mining enterprises achieved total profits of RMB 493.09 billion, down 31.6% YoY. The manufacturing sector generated RMB 3.02358 trillion, up 4.8% YoY. The electricity, heat, gas, and water production and supply sector posted RMB 503.68 billion in profits, an increase of 3.9% YoY.

Profit performance of key industries in the first seven months was as follows: agricultural and sideline food processing rose 14.5% YoY; electrical machinery and equipment manufacturing increased 11.7%; non-ferrous metal smelting and rolling grew 6.9%; computer, communication, and other electronic equipment manufacturing rose 6.7%; general equipment manufacturing was up 6.4%; electricity and heat production and supply rose 6.3%; special equipment manufacturing increased 3.2%; automobile manufacturing grew 0.9%. Meanwhile, non-metallic mineral products manufacturing fell 5.6%; textiles dropped 6.5%; chemical raw materials and chemical products manufacturing declined 8.0%; petroleum and natural gas extraction decreased 12.6%; coal mining and washing contracted sharply by 55.2%. Losses narrowed for the petroleum, coal, and other fuel processing sector.

From January to July, enterprises above designated size reported operating revenue of RMB 78.07 trillion, up 2.3% YoY, while operating costs reached RMB 66.80 trillion, up 2.5% YoY. The operating revenue margin stood at 5.15%, down 0.21 percentage points from a year earlier.

At the end of July, the total assets of these enterprises reached RMB 183.67 trillion, up 4.9% YoY; total liabilities stood at RMB 106.26 trillion, up 5.1%; and owners' equity amounted to RMB 77.41 trillion, up 4.6%. The asset-liability ratio came in at 57.9%, up 0.2 percentage points YoY.

At the end of July, accounts receivable totaled RMB 26.84 trillion, up 6.8% YoY, and finished goods inventory amounted to RMB 6.67 trillion, up 2.4% YoY.

In the first seven months, for every RMB 100 of operating revenue, costs accounted for RMB 85.57, up RMB 0.24 from a year earlier; expenses were RMB 8.38, down RMB 0.08.

By the end of July, enterprises generated RMB 74.0 of operating revenue per RMB 100 of assets, down RMB 1.9 YoY. Operating revenue per capita was RMB 1.826 million, an increase of RMB 54,000 YoY. The average finished goods inventory turnover period stood at 20.5 days, up 0.2 days YoY, while the average accounts receivable recovery period lengthened to 69.8 days, up 3.7 days YoY.

In July alone, industrial enterprises above designated size saw profits decline 1.5% YoY.