16% growth in Q1 gold production

CHINA produced 56.183 tons of gold in the first quarter of this year, a year-on-year increment of 7.746 tons or 15.99 percent, sources with the China Gold Industry Association said.

Chinese gold enterprises realized 14.6 billion yuan (US$1.9 billion) in gross industrial output in the three-month period, up 54.16 percent year on year. Their combined profits stood at 1.6 billion yuan, up 44.12 percent. From January to March, gold smelteries produced 17.909 tons of finished gold, up 14.76 percent, the sources said Saturday. Sun Zhaoxue, head of the gold industry association, said that annual gold production nationwide increased from 181 tons in 2001 to 240 tons in 2006.

Logistics business up 24% in Q1

THE country’s logistics sector realized 15.6 trillion yuan in business turnover in the first three months of this year, a growth of 24.2 percent from the previous year, sources with the National Development and Reform Commission said Saturday.

The growth was mainly shored up by delivery, processing and packaging businesses, the sources added. Of the total business turnover, 13.7 trillion yuan, or 88 percent, was recorded on industrial goods, up 2.8 trillion yuan or 25.2 percent year on year. The proportion was 0.8 percentage points higher than the previous year. Between January and March, the logistics sector generated 361.6 billion yuan in added value, up 16.7 percent.

Auto profits expected to slow

CHINA’S top 16 automotive groups reported a 70 percent increase in first-quarter profits helped by brisk sales, but the pace is expected to slow due to price wars in the world’s second-biggest vehicle market.

Post-tax profits totaled 12.8 billion yuan in the first three months of 2007, up 69.9 percent from a year ago, according to data provided by China Association of Automobile Manufacturers on Friday. SAIC Motor Co. Ltd., the biggest manufacturer by sales, posted profit growth of 71.9 percent, while profit from First Automotive Works Corp, the No 2, increased one-third. Zhu Yiping, an official from the auto association, said strong vehicle sales boosted by new model launches helped the profit surge.