The profit growth rate of industrial enterprises rises steadily (Rui Finance)
The National Bureau of Statistics recently released a monthly report on industrial economic benefits, showing that in October, with the vigorous advancement of policy measures such as ensuring supply and stabilizing prices and helping enterprises to relieve difficulties, the production and operation conditions of industrial enterprises continued to improve, and the profit growth rate rose steadily.
The profits of industrial enterprises above designated size across the country increased by 24.6% year-on-year, an acceleration of 8.3 percentage points from the previous month, and rebounded for two consecutive months.
Revenue maintains growth
From January to October, the national industrial enterprises above designated size achieved operating income of 102.22 trillion yuan, a year-on-year increase of 21.1%; the profits of industrial enterprises above designated size increased by 42.2% year-on-year, and the two-year average growth rate was 19.7%, continuing to maintain a rapid growth trend.
In October, industrial production rebounded slightly, the export of industrial products grew rapidly, and the prices of some industrial products continued to rise, which drove the acceleration of enterprise income growth.
"In October, the operating income of industrial enterprises above designated size increased by 12.2% year-on-year, an acceleration of 2.1 percentage points from the previous month, laying a good foundation for the improvement of corporate profitability." said Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics.
The unit cost of enterprises has fallen, which has promoted the improvement of profitability.
In October, the effects of policies such as tax reduction and fee reduction, supply and price stability continued to show, and the pressure of rising costs of industrial enterprises was eased.
The cost per hundred yuan of operating income of industrial enterprises above designated size was 83.45 yuan, a year-on-year decrease of 0.39 yuan, a decrease of 0.58 yuan from the previous month; the cost per hundred yuan of operating income was 8.22 yuan, a year-on-year decrease of 0.51 yuan, a decrease of 0.29 from the previous month Yuan.
"In October, the profit margin of corporate operating income rebounded to 7.44%, an increase of 0.73 percentage points year-on-year, and an increase of 0.78 percentage points from the previous month." Zhu Hong said.
Industry total profit growth
From January to October, among the 41 major industrial sectors, the total profit of 32 industries increased year-on-year, and one industry turned losses into profits.
Specifically, the consumer goods manufacturing, mining and raw materials manufacturing, and high-tech manufacturing industries performed well in profit growth.
Data show that in October, the profit of the consumer goods manufacturing industry turned from a decline to an increase.
Zhu Hong analyzed that factors such as increased orders for stocking during the "Double Eleven" and other holidays have driven the demand for related consumer goods. The profit of the consumer goods manufacturing industry has changed from a year-on-year decline in the previous month to an increase of 3.6%.
Among them, the profit of more than 70% of the consumer goods manufacturing industry rebounded, the profit of the chemical fiber industry increased by 1.18 times year-on-year, and the profit of the alcoholic beverage, tobacco, and textile industries turned from a decline to an increase.
The profit of high-tech manufacturing industry maintained rapid growth.
Zhu Hong introduced that in October, the profit of high-tech manufacturing industry increased by 17.4% year-on-year, continuing the double-digit growth trend. The contribution rate to the profit growth of industrial enterprises above designated size was 11.0%, and continued to help promote the optimization of the industrial economic structure and realize the transformation and upgrading.
Among them, the market demand for products such as vaccines and computers is good. Driven by factors such as increasing corporate orders, the profit of the pharmaceutical manufacturing industry has increased by 42% year-on-year; the profits of the computer and office equipment manufacturing, aerospace and equipment manufacturing industries have all achieved rapid growth.
Helping companies to alleviate difficulties
Zhu Hong said that the profits of industrial enterprises continued to rebound in October, but the profit differentiation between upstream and downstream industries has not improved significantly. The cost of some downstream industries is still under pressure, and the downward pressure on the profitability of industrial enterprises still exists.
The spokesperson of the National Bureau of Statistics, Fu Linghui, said that it is necessary to attach great importance to the recent increase in the cost of enterprises due to the increase in commodity prices and the increasing difficulties in the real economy, and do a good job in ensuring supply and stabilizing prices, actively helping enterprises to relieve difficulties, and promote the economy. The operation is kept within a reasonable range.
Su Jian, director of the National Economic Research Center of Peking University, analyzed to this reporter that China's industrial economy is expected to remain strong and resilient in the fourth quarter.
With the increasing efforts to ensure supply and price stabilization in the market, the production of manufacturing and mining industries resumed development, which is expected to continue to drive the overall improvement of the industrial economy.
At the same time, China's high-tech manufacturing industry has a good momentum of development, and its resilience in the face of external shocks is not reduced, and it is expected to stabilize at a relatively high growth rate.
Su Jian believes that we should continue to do a good job in the innovative use of fiscal policy and monetary policy tools, and "precise drip irrigation" downstream industry industrial enterprises, so that policy effects can directly reach the real economy.
"In the next stage, we must strengthen the cross-cycle adjustment of macroeconomic policies, in-depth implementation of relevant policies and measures to ensure supply and stable prices, promote the balance of market supply and demand, assist enterprises in alleviating difficulties, and promote the sustained and stable development of the industrial economy." Zhu Hong said.
Wang Wenzheng