The profits of industrial enterprises in China have maintained positive growth for three consecutive months
Beijing, November 27th (Xinhua) -- According to data released by the National Bureau of Statistics on the 27th, the profits of industrial enterprises above designated size in China decreased by 7.8% year-on-year in the first 10 months, a decrease of 1.2 percentage points from January to September. Since March this year, the profit decline has been narrowing month by month. Among them, the profits of industrial enterprises above designated size increased by 2.7% year-on-year in October, achieving positive growth for three consecutive months, and the efficiency of industrial enterprises continued to improve.
The cumulative revenue of industrial enterprises has turned into growth. From January to October, the operating income of industrial enterprises above designated size increased by 0.3% year-on-year, shifting from a flat year-on-year growth from January to September to an increase. Among them, the operating income of industrial enterprises above designated size in October increased by 2.5% year-on-year, with a growth rate 1.3 percentage points faster than September, and rebounded for four consecutive months.
The profits of the three major categories have all rebounded, with over 70% of industries seeing an improvement in profits. From January to October, the year-on-year decline in profits of the mining and manufacturing industries narrowed by 0.2 and 1.6 percentage points respectively compared to September. The profits of the electricity, heat, gas, and water production and supply industries increased by 40% year-on-year, with a growth rate accelerating by 1.3 percentage points. From January to October, among 41 major industrial sectors, 30 industries saw an acceleration or narrowing of profit growth compared to September, with a profit recovery rate of 73.2%.
The profits of the raw materials and consumer goods industries continue to improve. In the first 10 months, the year-on-year decline in profits of the raw material manufacturing industry narrowed by 4.8 percentage points compared to the period from January to September. The decline in profits of the consumer goods manufacturing industry narrowed by 0.8 percentage points from January to September, with a 2.2% increase in profits in October, marking the third consecutive month of growth.
Equipment manufacturing industryProfit continues to grow. From January to October, the profit of the equipment manufacturing industry increased by 1.1% year-on-year, continuing to maintain an upward trend. The proportion of profits in the equipment manufacturing industry to the above designated industries was 35.1%, an increase of 3.1 percentage points year-on-year.
Yu Weining, a statistician from the Industrial Department of the National Bureau of Statistics, said that overall, the profits of industrial enterprises continued to recover and improve from January to October. In the next stage, we will continue to thoroughly implement the decisions and deployments of the Party Central Committee and the State Council, effectively leverage financial resources to promote scientific and technological innovation, advanced manufacturing, green development, and the role of small and medium-sized enterprises, focus on expanding domestic demand, stimulate the vitality of business entities, promote the transformation and upgrading of traditional industries, cultivate and strengthen emerging industries, shape new advantages for industrial economic development, and promote high-quality industrial economic development.
Information source: Xinhua News Agency
