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Harbin industrial sector reports nine months

Updated : 2021-11-26

By ( e.my399.com )

In the first three quarters of the year, the industrial sector in Harbin – capital city of China's northernmost Heilongjiang province – reportedly recorded a stable performance.

From January to September, the city's total profits generated by manufacturers above designated size – those with annual sales averaging 20 million yuan ($3.1 million) or more – increased by 83.7 percent year-on-year, 39.0 percentage points higher than the national average. 

Their operating income increased by 16.7 percent year-on-year, continuing to maintain double-digit growth.

In the month of September, the city's manufacturers above a designated size suffered a loss of 32.8 percent, a decrease of 4.1 percentage points year-on-year and a decrease of 12.6 and 3.5 percentage points from those of the first quarter and the second quarter, respectively.

The losses of loss-making companies fell by 13.9 percent year-on-year. 

During the same period, the assets to liabilities ratio of manufacturers above designated size in the city was 60.6 percent, a year-on-year decrease of 1.8 percentage points.

Also in September, the inventories of finished products increased by 6.9 percent year-on-year, while the growth rate dropped by 2.3 and 7.9 percentage points from the first quarter and the second quarter.

The average payback period of accounts receivable during the period was 78.7 days and the finished product inventory turnover days were 28.3 days, a decrease of 5.5 days and 0.8 days respectively compared with the second quarter.