China News Service, Beijing, June 27 (Reporter Wang Enbo) The National Bureau of Statistics of China announced on the 27th that from January to May, the profits of China's industrial enterprises above designated size increased by 83.4% year-on-year, an increase of 48.0% over the same period in 2019, and an average two-year increase of 21.7 %.
In May, the profits of industrial enterprises above designated size increased by 36.4% year-on-year, 44.6% year-on-year, and an average growth rate of 20.2% over the two years.
According to Zhu Hong, a senior statistician from the Department of Industry of the National Bureau of Statistics, from the perspective of the performance of industrial enterprises in May, nearly 70% of the industry profits have increased year-on-year, and 80% of the industry profits have exceeded the same period in 2019.
In the month, among 41 major industrial sectors, 28 industries achieved year-on-year profit growth (or turned losses into profits), accounting for 68.3%.
Among them, there are 8 industries whose profit growth rate exceeds 100%.
Compared with the same period in 2019, 33 industries achieved profit growth, accounting for 80.5%.
It is worth noting that in May, the profit of the raw material manufacturing industry increased by 1.11 times year-on-year, with an average growth rate of 32.0% in two years. The growth rate was 74.8 and 11.8 percentage points higher than that of the industrial enterprises above designated size, respectively, driving the rapid growth of the profit of industrial enterprises.
Among them, benefiting from the recovery of market demand and rising prices of bulk commodities, ferrous metals, non-ferrous metal smelting and rolling processing industries, chemical raw materials and chemical products manufacturing, petroleum and coal and other fuel processing industries have increased their profits rapidly, with an average increase in the two years. The average speed is between 31% and 68%, and the above four industries together have driven the profits of industrial enterprises above designated size to increase by 8.3 percentage points on average in two years.
The profit growth of the consumer goods manufacturing industry, such as pharmaceuticals, has also accelerated significantly.
In May, the profit of the consumer goods manufacturing industry increased by 30.6% year-on-year, and the two-year average growth rate was 21.3%. The growth rate was 6.4 and 3.7% faster than that in April, respectively.
Among them, driven by the strong demand for epidemic prevention and anti-epidemic materials such as the new crown vaccine and testing reagents, the profit of the pharmaceutical manufacturing industry maintained rapid growth. Profits in May increased by 85.7% year-on-year, and the two-year average growth was 50.9%, which was an increase of 23.6 and 12.5 percentage points respectively from April. .
In this context, the scope of corporate losses has continued to shrink, and the amount of losses has fallen sharply.
At the end of May, the loss of industrial enterprises above designated size was 22.6%, a year-on-year decrease of 3.2 percentage points and a decrease of 1.2 percentage points from the end of April.
From January to May, the loss of loss-making enterprises decreased by 29.6% year-on-year.
In May, the overall performance of China's industrial enterprises continued to recover steadily. However, Zhu Hong also reminded that the imbalance of corporate profits is more prominent and the foundation for recovery is not yet solid. First, due to factors such as rising prices of bulk commodities, the newly increased profits of industrial enterprises are mainly concentrated in the upstream mining and raw material manufacturing industries, and the cost pressure in the downstream industries continues to increase. Second, the profit growth rate of small and micro enterprises is lower than that of large and medium-sized enterprises, and the profit growth rate of private enterprises is lower than the average level of industrial enterprises above designated size. (Finish)