More than three fourths of the companies listed on China's Shanghai and Shenzhen stock exchanges reported profits in the first three quarters of 2024, according to the data released by those companies.
According to the data, the 5,110 listed companies reported 52.5 trillion yuan (7.39 trillion U.S. dollars) in operating revenue and 4.4 trillion yuan (620 billion U.S. dollars) in net profits.
In the first three quarters, 55 percent of the listed companies saw a year-on-year increase in operating revenue, and 76 percent reported profits.
During the same period, the year-on-year profit growth rate of companies listed on the main board of the Shanghai Stock Exchange turned positive, shifting from a 0.1-percent-decline in the half-year report to a 3-percent-increase.
In terms of industry performance, 13 out of the 28 major sectors reported positive profit growth. Sectors such as agriculture, forestry, animal husbandry and fishery, electronics, social services, food and beverages, and automotive led the growth.
Listed companies profitable on Shanghai, Shenzhen stock exchanges in Q1-3
Listed companies profitable on Shanghai, Shenzhen stock exchanges in Q1-3
China's vast imports and exports foster global connections, economic growth and cultural exchange, said a UN official in Shanghai on Tuesday.
Addressing the opening ceremony of the seventh China International Import Expo (CIIE) and the Hongqiao International Economic Forum, Rebeca Grynspan, secretary-general of the United Nations Conference on Trade and Development (UNCTAD), said that China's international trade impacts the developing world, enabling economic diversification and a more close-knit global community.
"China is one of the world's largest economies and consumer markets and by far the largest exporter. How and what China exports and how and what China imports can have dramatic effects in places even very far from its shores. China's imports and exports have also an important impact in the Global South and the opportunities of trade to diversify their economic structures," said the official.
"Seen from the perspective of the small enterprise or the individual merchant, trade sometimes may seem trivial. In aggregate however, trade is a force of nature. When countries engage in trade, they unlock a cascade of positive effects: ideas exchange, structural transformation, cultural understanding," she said.
Grynspan sent her wishes to the expo, noting that the CIIE promotes global business connections and partnerships, and a prosperous and interconnected economy.
"This expo embodies exactly that message with a spirit of openness where businesses worldwide can connect, forge partnerships and contribute to a more prosperous and interconnected global economy. As I close, it is very good to see so many countries participating in this year's expo. May your participation be a big success leading to new partnerships, more trade and a brighter future for all," she said.
The CIIE is the world's first national-level exposition dedicated to imports. This year's expo is scheduled to run from November 5 to 10.
The seventh CIIE has attracted participants from 152 countries, regions and international organizations, and achieved a new record with 297 Fortune Global 500 companies and industry leaders to attend.
At the ongoing CIIE, over 400 new products, technologies and services from around the world are being showcased, spanning sectors such as artificial intelligence, new materials, autonomous systems and energy transition technologies.
Trade with China fosters global connections, economic growth: UNCTAD head
