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Oil exploitation most profitable

(chinanews.cn)
Updated: 2006-06-28 10:19

Statistics released by the National Bureau of Statistics (NBS) on June 24 show that the oil and natural gas exploitation industry tops China's 100 key industries in terms of the cumulative profits of its top ten enterprises, which set 240.66 billion RMB (US$ 30.0825 billion), 44.54 billion RMB higher than that of the steel malleating processing industry which stands at the second place.

NBS published the information of 1,000 enterprises which achieved "top ten benefits" among the 100 key industries of China in the year 2005. Besides the above-mentioned two industries, power supply, cigarette making, communication facility manufacturing, power generation and car manufacturing also recorded outstanding profits.

Statistics show that in 2005, these 1,000 enterprises realized 635.72 billion RMB of profits, accounting for 42.9% of the whole industrial sector. Their asset profit margin, productivity of overall workforce and per capita return were 2.4-fold, 3.2-fold and 7-fold the average level of the whole industry, respectively.