China News Service, September 27th. The National Bureau of Statistics released the profit data of industrial enterprises on the 27th. Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics, explained that in August, the profit of industrial enterprises above designated size 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 by 3.7% from January to July.

The stable recovery of industrial profits in August has been further consolidated. However, it must be noted that the growth rate of operating income and profits of industrial enterprises from January to August has not yet turned positive, and the growth rate of accounts receivable has continued to rise. At the same time, the domestic and international environment is complex and changeable, and corporate profits Sustained and stable growth is still under pressure.

Data map: factory workshop.

Photo by China News Agency reporter Zhang Lang

　　Zhu Hong said that the profit growth in August showed the following characteristics: First, the steady recovery of production and demand.

In terms of production, in August, the added value of industries above designated size 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 of production and demand has promoted the sales growth of industrial enterprises.

In August, the industrial producer price index continued to rebound, and the operating income of industrial enterprises increased by 4.9% year-on-year, 1.6 percentage points faster than in July. The expansion of enterprise production scale strongly supported the steady growth of profits.

　　Second, unit costs and expenses continued to decline, and corporate profitability improved.

A 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 for industrial enterprises above designated size decreased by 0.47 yuan year-on-year, and the cost per hundred yuan of operating income decreased by 0.02 yuan year-on-year.

While the pressure on corporate operations has been continuously eased, corporate profitability has improved significantly.

In August, the profit margin of operating income of industrial enterprises above designated size increased by 0.8 percentage points year-on-year, which has increased year-on-year for four consecutive months.

　　Third, 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.

In August, the profit of the mining industry fell by 11.9% year-on-year, and the rate of decline was significantly narrower than that in July by 28.7 percentage points.

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%.

From the perspective of specific industries, under the influence of factors such as improvement in downstream demand, rising product prices, and low base in the same period, the profit growth of industries such as petroleum processing and steel has accelerated.

In August, the profit of the petroleum processing industry increased by 148.2% year-on-year, and the growth rate was 101.6 percentage points faster than that in July. The cumulative profit realized profit for the first time during the year; the profit of the steel industry increased by 68.3%, an acceleration of 46.2 percentage points.

　　Fourth, 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 general equipment manufacturing 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 profits of the three industries including special equipment, electronics, and instrumentation continued to maintain two positions. Affected by the decline in production growth and investment income, the growth rate of the automobile manufacturing industry has fallen from July, but it still maintained a rapid growth of 55.8%, which was significantly higher than the industrial average.

　　Fifth, the amount of corporate losses has decreased, and losses have been reduced 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 of industrial enterprises above designated size narrowed by 1.2 percentage points compared with that at the end of July, and continued to shrink month by month.

　　Zhu Hong pointed out that the stable recovery of industrial profits in August has been further consolidated. However, it must be noted that the growth rate of operating income and profits of industrial enterprises from January to August has not yet turned positive, the growth rate of accounts receivable has continued to rise, and the domestic and international environment has become more complicated. Changes, corporate profits continue to grow steadily and still face certain pressure.

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.