The profits of China's industrial enterprises have maintained positive growth for three consecutive months
According to the data released by the National Bureau of Statistics on the 27th, in the first 10 months, the profits of industrial enterprises above designated size fell by 7.8% year-on-year, 1.2 percentage points narrower than that from January to September, and the profit decline has narrowed month by month since March this year. 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 turned to growth. From January to October, the operating income of industrial enterprises above designated size increased by 0.3% year-on-year, turning from the same year-on-year flat to growth from January to September. Among them, the operating income of industrial enterprises above designated size increased by 2.5% year-on-year in October, and the growth rate was 1.3 percentage points faster than that in September, rebounding for four consecutive months.
The profits of the three major categories have rebounded, and the profits of more than seventy percent of the industry have improved. From January to October, the year-on-year decline in profits of the mining industry and manufacturing industry was 0.2 and 1.6 percentage points narrower than that from January to September, respectively, and the profits of electricity, heat, gas and water production and supply industries increased by 40% year-on-year, and the growth rate accelerated by 1.3 percentage points. From January to October, among the 41 major industrial industries, 30 industries accelerated or narrowed the profit growth rate from January to September, and the profit recovery reached 73.2%.
Profits in the raw materials and consumer goods industries continued 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 from January to September. The decline in profits of the consumer goods manufacturing industry was 0.8 percentage points narrower than that from January to September, of which the profits of the consumer goods manufacturing industry increased by 2.2% in October, increasing for three consecutive months.
The profits of the equipment manufacturing industry continued to grow. From January to October, the profit of the equipment manufacturing industry increased by 1.1% year-on-year, continuing to maintain a growth trend. The profit of the equipment manufacturing industry accounted for 35.1% of the above-scale industry, 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 from January to October. In the next stage, it is necessary to continue to thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council, effectively give full play to the role of financial resources in promoting scientific and technological innovation, advanced manufacturing, green development and small, medium and micro enterprises, focus on expanding domestic demand, stimulate the vitality of business entities, promote the transformation and upgrading of traditional industries, cultivate and expand emerging industries, shape new advantages in the development of the industrial economy, and promote the high-quality development of the industrial economy.
Source: Xinhua News Agency (reporter Wei Yukun)
