(Yicai Global) May 1 -- Nearly 60 percent of listed Chinese companies have posted net profit growth last year, led by the nation's strong banking sector.
Almost 2,000 out of 3,400 firms listed on the bourses of Shanghai and Shenzhen have logged increasing profits, China Securities Journal reported. The nation's banking sector made up about 40 percent of all China-listed companies' total net profit, rising nearly 6 percent to CNY1.5 trillion (USD222.7 billion).
Nearly 400 of the increasingly profitable firms doubled their net profits and nearly one half of them boosted such gains by over 30 percent.
Chinese mainland-listed companies' revenues rose nearly 13 percent from a year ago to reach CNY43.9 trillion in 2018. Their net profits increased 2.7 percent to CNY3.5 trillion.
Editor: Emmi Laine