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China's iron ore mining sector posts better performance in Jan.- Sept.

2019-11-02 14:51

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BEIJING, Nov. 2 (Xinhua) -- China's iron ore mining sector saw steady growth in the first three quarters this year, official data showed.

The output of crude iron ore stood at 630 million tonnes, up 5.9 percent over a year ago, according to a statement on the website of the Ministry of Industry and Information Technology (MIIT).

During the period, the revenue of the major industrial firms, with an annual revenue of more than 20 million yuan, amounted to 244.99 billion yuan (about 34.78 billion U.S. dollars), surging 14 percent year on year.

The combined profit of those firms posted a 246.1-percent growth to 17.93 billion yuan, while the number of enterprises running in the red decreased 33.2 percent to 245.

The increasing demand and price of iron ore boosted the robust growth of the sector, said the MIIT.

The statement also noted that the industry benefited from the tax and fee reduction policies.
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