According to data released by the National Bureau of Statistics, in March, the year-on-year decline in the total profit of industrial enterprises above designated size in the country narrowed from the previous two months, indicating that the resumption of production and production of enterprises continued to accelerate, and industrial product sales began to pick up. However, due to the uncertainty of the overseas epidemic situation, there is still pressure on the profitability of domestic industrial enterprises in the second quarter, and the counter-cyclical adjustment efforts still need to be moderately increased.

  On April 27, the National Bureau of Statistics released data on the effectiveness of industrial enterprises above designated size in March. In March, the total profit of industrial enterprises above designated size fell by 34.9% year-on-year, a decrease of 3.4 percentage points from the previous two months; in the first three months, the cumulative profit of industrial enterprises above designated size fell by 36.7% year-on-year, a decrease from the previous two months. 1.6 percentage points narrower.

Supporting the performance of corporate policies

  "With the overall planning of the epidemic prevention and control and economic and social development, the decision-making and deployment have gradually landed, and the resumption of production and production of enterprises has been accelerating. Since March, industrial production has obviously recovered, and the growth rate of some regions, industries, and products has changed from negative to positive, and sales of industrial products have begun. The company's profits have shown positive changes, "said Zhang Weihua, deputy director of the Department of Industry of the National Bureau of Statistics.

  According to data previously released by the National Bureau of Statistics, in March, out of 41 major industries, 37 industries accelerated or decreased in production from January to February, and the added value of 16 industries increased year-on-year.

  "Due to good progress in domestic epidemic prevention and control, the management has taken the opportunity to comprehensively support production and life in an orderly return to normal, economic activity has clearly recovered, and business operations have improved accordingly." Zhou Maohua, an analyst at the Everbright Bank's Financial Market Department, said that domestic intensive introduction A series of fiscal and monetary policies have effectively reduced the cost burden of enterprises, while actively unclogging "blocking points" in financing, logistics, sales, and industrial chain. The effects of these policies supporting enterprises are showing.

  As production resumes and market demand gradually picks up, in March, profits in most industries improved. Among 41 major industries, 28 industries have increased or narrowed their profit growth rate compared with the previous two months, and 8 of these industries have achieved profit growth, an increase of 4 over the previous two months.

  The profits of advanced manufacturing have improved significantly. The production of high-tech manufacturing and equipment manufacturing accelerated its recovery. Among them, the value added of high-tech manufacturing increased by 8.9% year-on-year, and fell by 14.4% in the first two months. The added value of the equipment manufacturing industry decreased by 3.6% year-on-year, and the decrease was significantly narrowed by 20.4 percentage points. Driven by this, manufacturing profits in March fell by 34.6% year-on-year, a decrease of 8.1 percentage points from the previous two months. Among them, the profits of high-tech manufacturing industry increased by 0.5% year-on-year, compared with a year-on-year decrease of 37.1%; the profits of strategic emerging industries fell by 9.1%, and the decline narrowed by 30.7 percentage points.

  The profits of the necessities industry have improved significantly. In March, the profits of the agricultural and sideline food processing industry increased by 28.7% year-on-year, and the growth rate was 26.5 percentage points faster than the previous two months; the profit of the food manufacturing industry fell by 16.4%, and the decline narrowed by 17.1 percentage points. In March, consumer product manufacturing profits fell 8.7%, narrowing the decline by 7.8 percentage points.

  In terms of types of enterprises, the decline in profits of private, small and foreign-funded enterprises has also narrowed to varying degrees. In March, the profits of private enterprises fell by 20.1% year-on-year, a decrease of 16.5 percentage points from the previous two months; the profits of small enterprises decreased by 17.0%, and the decrease rate narrowed by 23.7 percentage points; the profits of foreign-invested, Hong Kong, Macao, and Taiwan-invested enterprises decreased by 38.9%, a decrease Narrowed by 14.7 percentage points.

Reverse cycle adjustment still needs to be moderately increased

  Zhang Weihua said that although the profit situation of industrial enterprises above designated size has improved in March, due to the fact that market demand has not yet fully recovered, enterprise product inventories have increased, industrial product prices have continued to fall, and cost pressures are still large, industrial enterprises have made profits. The decline is still large, and the profit situation is still not optimistic.

  Zhou Maohua also believes that since March, the overseas epidemic has spread beyond expectations, and the global economy has been impacted, which has caused the price of crude oil and other commodities to plummet, which has caused a certain drag on China's overall corporate profitability. Due to the severe global epidemic situation, domestic needs to promote the resumption of production and production under the premise of prevention and control of epidemic situations, especially the overseas epidemic situation and its economic drag still have great uncertainties.

  "In the second quarter, there is still pressure on the overall profitability of China's domestic industrial enterprises, but the overall corporate profitability curve has improved step by step." Zhou Maohua said that the current domestic epidemic prevention and control has achieved stage results, economic activity has clearly recovered, and domestic demand has tended to improve ; Domestically increase counter-cyclical adjustments to effectively reduce enterprise costs, especially those companies that have been severely hit by the epidemic are supported, and the profitability of domestic automobile and other manufacturing industries is expected to gradually improve.

  Zhou Maohua said that current domestic policies need to balance growth, prevent risks, prevent inflation, and promote reform and other multiple goals, and set high demands on the accuracy and effectiveness of policies. The strength of counter-cyclical adjustments still needs to be increased moderately. Fiscal policy has appropriately increased public investment and public consumption expenditures. Monetary policies have maintained reasonable and sufficient liquidity, and guided financial institutions to increase support for weak links in the real economy, stabilize employment, and encourage new formats, The development of new consumption patterns unleashes the potential of domestic demand. In terms of external demand, it is necessary to provide foreign trade enterprises with the necessary support, cooperate with overseas economies to smooth international shipping logistics, stabilize the industrial chain, and develop overseas markets.

  "In the next stage, we must still grasp the normalization of epidemic prevention and control, at the same time, we must carefully grasp various policies and measures to promote economic and social development, actively help enterprises to alleviate difficulties, stabilize the economic fundamentals, and promote the stability of the industrial economy. Run. "Zhang Weihua said. (Economic Daily News-China Economic Net reporter Lin Huocan)