Reports from China's National Statistics Bureau (CNSB) said earnings of industrial enterprises above designated size in China (with individual annual core business revenue over RMB20 million) topped RMB4,218.33 billion, growing +66.9% from the same period of 2020 and gaining +45.5% from that of 2019 as well.

Among the enterprises, earnings of those under state-hold or ownership spiraled 1.12 times year-on-year to RMB1,377.42 billion, followed by +70.4% growth in earnings to RMB2,985.85 billion of joint-stock enterprises, +60.7% increase to RMB1,143.36 billion of foreign, Hong Kong, Macao, and Taiwan-invested enterprises and +47.1% rise to RMB1,216.40 billion of domestic private enterprises.

From January to June, the combined business revenue of such enterprises in the paper making and converting industries totaled RMB714.20 billion, rising +24.7% from that of 2020, according to CNSB reports. Their earnings jumped +77.2% year-on-year to RMB48.43 billion, regardless of the +23.2% rise to RMB606.70 billion in business cost at the same time. On the year-to-date performance of the country's paper and board industry as a whole, production grew +16.0% to 67.43 million/mt, after a +5.8% rise to 11.90 million/mt in June.

Reports from CNSB also showed China's manufacturing PMI index in July was 50.4. Though 0.5 percentage points less than the previous month, it continued to stay above the critical point and keep the country's manufacturing industries in expansion mode. This included paper and printing industries whose production and new order indexes upheld their relatively high prosperous range above 55.0, indicating active production and operation as well as strong growth momentum of the industries.