China News Service, Beijing, December 27 (Reporter Wang Enbo) The National Bureau of Statistics of China announced on the 27th that from January to November, China's industrial enterprises above designated size achieved a total profit of 79,750.1 billion yuan, a year-on-year increase of 38.0%, compared with 1-11 in 2019. The monthly growth rate was 41.3%, and the two-year average growth rate was 18.9%.
In November, the profits of industrial enterprises increased by 9.0% year-on-year, and the growth rate dropped by 15.6% from the previous month. The two-year average growth rate was 12.2%.
Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics, said that in November, as the effects of the policy of ensuring supply and stabilizing prices and helping companies to relieve difficulties continued to appear, the rapid increase in the price of some upstream raw materials was initially curbed, and the cost pressure of downstream industries was eased. The profit structure showed improved characteristics.
In the same month, the prices of some commodities fell, the mining and raw material industries' role in driving profit growth has weakened, while the equipment and consumer goods manufacturing industries in the middle and lower reaches of the industry have increased their contribution to the profits of industrial enterprises, and the proportion of profits has increased significantly. The phenomenon of differentiation has eased.
From an industry perspective, among 41 major industrial sectors, 26 industries have increased their profits year-on-year, an increase of 3 from the previous month, and the growth area has expanded. The ratio exceeds 80%.
Specifically, in November, driven by the stable recovery of consumer product production and price rebound, the profit of the consumer product manufacturing industry increased by 13.6% year-on-year, a significant increase of 10.0 percentage points from the previous month. The growth rate rebounded for two consecutive months, and the growth rate was higher than that The average level of industries above designated size is 4.6 percentage points.
The profit of the equipment manufacturing industry has also turned from a decline to an increase.
In November, the equipment manufacturing industry's profit increased by 0.8% year-on-year, while in October it fell by 7.5%, and the profit turned from a decline to an increase.
Among them, although the profits of the automobile and general equipment industries fell by 6.4% and 6.2% respectively year-on-year, the decline was narrowed by 22.1 and 9.5 percentage points respectively from the previous month, driven by factors such as the alleviation of chip shortages and the improvement of market demand.
In November, the profit of the mining industry increased by 248.4% year-on-year, continuing the rapid growth since the beginning of the year. However, the growth rate has dropped significantly from the previous month, and the driving effect of the profit growth of industrial enterprises has weakened.
Zhu Hong said that in general, the profits of industrial enterprises continued to maintain rapid growth in November, and the balance of the industry has also improved, but the cost pressure is still relatively large, and the improvement of profits in the downstream industries needs to be further consolidated.
(Finish)