Nov-26 10:41 BUSINESS
China's alcohol-making industry sees profits up 1.3 pct
China's major alcohol enterprises saw their profits increase by 1.3 percent year on year to reach 103.31 billion yuan (about 15.48 billion U.S. dollars) in the first eight months of 2020, according to data released by the Ministry of Industry and Information Technology.
During the same period, alcohol-makers with more than 20 million yuan in annual revenue from their main operations registered total revenue of 512.95 billion yuan, down 2.4 percent from a year earlier, the ministry said.
Chinese liquor-making enterprises saw their output reach 4.18 million kiloliters in the January-August period, down 11.1 percent year on year.
The output of breweries went down 7.9 percent year on year, while that of winemaking companies dropped 28.8 percent year on year in the same period.
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