Photo taken on May 9 Roger Martinez World Cup Jersey , 2017 shows a container terminal of Zhoushan Port in Ningbo City, east China's Zhejiang Province. Located in the middle of China's long coastline, Ningbo possesses rare geographical advantages and serves as a unique port. It was a significant trading port on the thriving Maritime Silk Road in ancient China. (XinhuaZhang Cheng)
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BEIJING Robinson Zapata World Cup Jersey , May 2 (Xinhua) -- Six in 10 Chinese-listed companies are poised to announce huge profits for the first half of this year, despite concerns that the world's second-largest economy will lose steam.
Some 60.3 percent of 1,099 Chinese publicly traded companies as of Monday had forecast profit growth or projected that losses would be transferred to gains for the January-June period.
The profitability of listed companies offers insight into broader economic performance.
Breakdown figures revealed that only 13.6 percent of these companies are set to witness profit decreases or going into debt for the first six months, and the remainder have not made profit projections, Xinhua-run Shanghai Securities News reported Tuesday.
TRADITIONAL SECTOR WINNERS
As China continues to slash excess capacity and the price of products increases Radamel Falcao World Cup Jersey , traditional sectors such as coal, metal and petrochemicals will see continued growth.
Companies in upstream sectors are among the biggest winners, with 54 listed petrochemical companies predicting more profits or reversing business losses. Five companies, including Zhejiang Satellite Petrochemical, forecast net profits increases of more than 10-fold year on year.
Nonferrous metal-related companies are expected to turn healthy profits Marlos Moreno World Cup Jersey , with 21 businesses expected to announce increased profits or turn losses into profits.
"The prices of petrochemicals and other products remained high at the start of the year due to the ongoing supply-side structural reform and more stringent environmental protection standards. Some smaller companies will be forced to halt business, while industry leaders will secure a stronger foothold in the market," said Chen Hongliang, researcher with Guotai Junan Securities.
China is pressing ahead with supply-side structural reform, which features cutting overcapacity Juan Guillermo Cuadrado World Cup Jersey , deleveraging, lowering costs, reducing inventories and strengthening weak business links to generate sustainable long-term growth.
Many electrical equipment manufacturers staged strong growth thanks to robust fixed-asset investment growth in China's transportation infrastructure, with the profits of 12 listed companies set to more than double in the first six months.
