641 companies release performance forecast, more than 40% expect positive growth

Source: Global Times Published: 2020/12/26 15:26:14

File photo:Xinhua

A total of 641 firms listed on China's A-share market, as of Friday, released performance forecasts for 2020. More than 40 percent of them predict positive growth despite the fallout of the COVID-19 pandemic, reports said.

Among the 273 firms forecasting a good year for business, 118 forecast growth and 73 said they will stop loss and turn profitable, China Securities Journal reported, citing data provider Wind.

According to the report, 111 firms forecast a net profit growth rate of over 50 percent and 78 predicted a growth rate in profits of over 100 percent.

The predictions come alongside China's effective containment of the coronavirus and rapid recovery of economic activities. The IMF estimates China is expected to be the only major economy to record positive growth in 2020, compared to the global economy's 4.4 percent contraction.  

According to latest data from the Ministry of Commerce (MOFCOM), China's total import and export volume is expected to reach about 32 trillion yuan ($4.9 trillion) this year, up 30 percent from year 2015, according to media reports.

As the tough year winds down with the coronavirus still taking its toll on many countries, China's next Five-Year Plan is designed to make its economy even bigger and stronger by 2025, which will offer a favourable environment for businesses operating in China to grow and thrive.

Global Times


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