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 decline in profits 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 revenue of industrial enterprises above designated size increased by 0.3% year-on-year, turning from a year-on-year flat from January to September to growth. Among them, the operating revenue of industrial enterprises above designated size increased by 2.5% year-on-year in October, with a growth rate of 1.3 percentage points faster than September, and has rebounded for four consecutive months. The profits of all three major categories have rebounded, with over 70% of industry profits improving. 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 January 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 the 41 major industrial sectors, 30 industries saw an increase in profit growth or a narrowing of the decline compared to January 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 January to September. The profit decline of the consumer goods manufacturing industry narrowed by 0.8 percentage points compared to the period from January to September. Among them, the profit of the consumer goods manufacturing industry increased by 2.2% in October, marking the third consecutive month of growth. The profit of the equipment manufacturing industry 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 profit of equipment manufacturing industry accounted for 35.1% of the proportion of large-scale industries, an increase of 3.1 percentage points year-on-year. According to Yu Weining, a statistician from the Industrial Department of the National Bureau of Statistics, overall, industrial enterprise profits continued to recover and improve from January to October. In the next stage, we will continue to deeply implement the decisions and deployments of the Party Central Committee and the State Council, effectively leverage the role of financial resources in promoting scientific and technological innovation, advanced manufacturing, green development, and small and micro enterprises, focus on expanding domestic demand, stimulating the vitality of business entities, promoting the transformation and upgrading of traditional industries, cultivating and strengthening emerging industries, shaping new advantages in industrial economic development, and promoting high-quality development of industrial economy. (Lai Xin She)
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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