Profits of China's listed companies up more than 30 pct in 2010

Net profits of Chinese companies listed both in Shanghai and Shenzhen climbed more than 30 percent in 2010 from a year earlier, as all companies have released their annual reports till Saturday.

Data from the Shanghai Stock Exchange shows that the profits of companies listed in Shanghai climbed 37.25 percent from 2009 to 1,416.8 billion yuan (about 218 billion U.S. dollars).

Only 55 companies, or 6.07 percent of all companies listed in Shanghai reported losses in 2010, down 6.83 percentage points from 2009.

Companies listed in Shenzhen registered a total profits of 248.63 billion yuan last year, up 38.08 percent from 2009.

So yes also for our US-listed China stocks it possible to show more than 30% growth in net profits. Short sellers often claim that such growth figures are inflated.