Ma said China's industrial enterprises achieved a production increase of 2.25 trillion yuan (US$271 billion) during the first three quarters, a 12.2 percent rise over the same period last year.

The figures for the three quarters, 10.9 percent, 12.5 percent and 13.1 percent respectively, indicate a steady climb, according to Ma.

Official statistics available show the consignment value of industrial exports hit 1.39 trillion yuan (US$167.5 billion), a 21 percent rise over the same period last year.

The sale of industrial products also increased. The accumulative sales percentage in the first three quarters was 97.6percent, up 0.41 percentage points over the same period last year.

Moreover, Ma said, industrial firms saw big profits. Enterprises above the average level in the first eight months netted a profit of 324.6 billion yuan (US$39.1 billion), 29.4 billion yuan (US$3.54 billion) more than the same period last year, representing a 10 percent increase.

State-owned enterprises turned a corner, Ma noted. The profit decrease percentage of the state-owned enterprises has plunged to 4.1 percent from 30.1 percent in the first quarter this year.

(Xinhua News Agency October 24, 2002)