THE majority of firms listed in Shanghai and Shenzhen expect improving profitability in 2018 as China’s economy is maintaining stable development.

Some 1,200 listed companies have released their advance 2018 financial reports so far, with 781 companies expecting rising net profits or the turning of losses into gains, Tuesday’s Shanghai Securities News reported.

Profit growth of 344 companies is expected to exceed 50 percent, while 170 companies predicted their 2018 net profits will more than double compared with 2017.

The newspaper said the improvements were caused by factors including strong performance of their primary businesses, restructuring and extraordinary items.

Sectors in chemicals, machinery manufacturing and electronics were bright spots, according to the advance financial reports.

Rising prices of chemical products boosted profitability of the chemical industry, with 91 companies expecting profit growth, ranking the first, followed by 71 companies in machinery manufacturing and 68 companies in electronics. (Xinhua)