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Q3 contracts surge for listed companies

(Xinhua)
Updated: 2008-10-15 18:02

Fifty-four publicly-owned Chinese companies signed 132 contracts in the third quarter this year, bringing in 122.2 billion yuan ($17.9 billion), the China Securities Journal reported on Wednesday.

The contract value is up 163 percent from the same period last year.

From July to September 2007, 47 publicly listed companies landed 90 contracts worth 46.4 billion yuan.

According to the journal, the increase in the contract value is mainly attributed to China Railway Group Limited (CRG). It signed 29 contracts worth 52.6 billion yuan. That is 43 percent of the total amount of money brought in by contracts in the third quarter.

CRG was listed on the country's stock market in December last year.

According to the report, the number of overseas contracts declined in the third quarter. Eleven listed companies signed 22 overseas contracts worth 27.9 billion yuan. That was down 20.7 percent from the same period last year.

The performance of the 54 companies stood out against the backdrop of global economic downturn.

According to a survey of 5,000 enterprises conducted by the country's central bank, the export order index, which reflects overseas demand, registered 2.6 percent in the third quarter. That was down 2.6 percent from the previous quarter.

The domestic order index, which reflects domestic demand, stood at 9.1 percent. That was down 3.7 percent from the previous quarter, representing the largest decline in the past ten years, the survey showed.