Industrial profits grew steadily in August
Beijing, September 27th (Reporter Lu Yanan) According to data released by the National Bureau of Statistics on the 27th, as the domestic epidemic prevention and control has achieved major results, the implementation of the "six stability" and "six guarantees" tasks has become increasingly effective in August. The profits of industrial enterprises above designated size across the country increased by 19.1% year-on-year, continuing a steady growth trend.
From January to August, cumulative profits fell by 4.4% year-on-year, and the rate of decline narrowed 3.7 percentage points from January to July. The profits of industrial enterprises increased steadily.
Zhu Hong, a senior statistician from the Department of Industry of the National Bureau of Statistics, analyzed that the industrial profit growth in August showed five characteristics:
Production and demand have recovered steadily.
In terms of production, the industrial added value in August increased by 5.6% year-on-year, and the growth rate was 0.8 percentage points higher than that in July.
In terms of demand, the cumulative decline in fixed asset investment across the country has further narrowed and basically returned to the same period last year; the monthly growth rate of total retail sales of consumer goods turned positive for the first time this year.
"The continuous improvement in production and demand has promoted the sales growth of industrial enterprises." Zhu Hong analyzed that in August, the industrial producer price index continued to rise, and the operating income of industrial enterprises increased by 4.9% year-on-year, 1.6 percentage points faster than in July. Scale expansion has strongly supported the steady growth of profits.
Unit costs continued to decline, and corporate profitability improved.
The package of tax cuts and fee reductions and other relief-benefit policies continued to be effective. In August, the cost per hundred yuan of operating income of regulated industrial enterprises decreased by 0.47 yuan year-on-year; the operating income margin of regulated industrial enterprises increased by 0.8% year-on-year. It has increased year-on-year for 4 consecutive months.
The profit of the mining industry has been significantly restored, and the profit growth of the raw material manufacturing industry has accelerated.
In August, the internal supply-demand cycle of the industry has been improved, and the continuous recovery of downstream industries has enhanced the leading role of upstream industries.
Among them, benefiting from the rebound in demand and the continued rebound in the prices of international commodities such as crude oil and iron ore, the profits of the mining industry have been significantly restored, and the profit growth of the raw material manufacturing industry has accelerated.
The profit of the raw material manufacturing industry increased by 32.5%, an increase of 17.8 percentage points higher than that in July, which drove the profit of industrial enterprises above designated size to increase by 6.7%.
The profit of the equipment manufacturing industry maintained rapid growth.
In August, the profit of the equipment manufacturing industry increased by 23.1% year-on-year, which drove the profit of all industrial enterprises above designated size to increase by 8.1 percentage points.
Among them, the profit of the general equipment manufacturing industry increased by 37.0% year-on-year, and the electrical machinery and equipment manufacturing industry increased by 13.3%. The growth rate was 11.0 and 5.2 percentage points higher than that in July.
The amount of corporate losses has fallen, and the extent of losses has shrunk month by month.
With the further improvement of business conditions, the number of loss-making companies has continued to decrease, and the amount of losses has dropped significantly.
In August, the loss of loss-making enterprises dropped by 37.0% year-on-year.
At the end of August, the loss-making area of industrial enterprises under the regulations narrowed by 1.2 percentage points compared with that at the end of July, and continued to shrink month by month.
Zhu Hong said that in the next stage, we must adhere to the supply-side structural reform as the main line, further tap the potential of domestic demand, stimulate the vitality of market players, strive to smooth the supply and demand cycle, continuously consolidate and expand the economic recovery results, and promote the steady improvement of the quality of industrial economic development.