China News Service, Beijing, December 12 (Reporter Wang Enbo) China's National Bureau of Statistics announced on the 27th that the profits of China's industrial enterprises above designated size in November increased by 27.11% year-on-year, and the growth rate was significantly faster than that in October, and profits have achieved positive growth for four consecutive months. Officially, this is due to the accelerated recovery of profits of industrial enterprises, coupled with the relatively concentrated recording of investment income.
On the whole, from January to November, the profits of industrial enterprises above the designated size fell by 1.11% year-on-year, 4.4 percentage points narrower than that from January to October, continuing the trend of narrowing month by month since March, and the profit decline narrowed to less than 1% for the first time in the year.
Yu Weining, a statistician at the Industrial Department of the National Bureau of Statistics, said that the revenue of industrial enterprises has rebounded for five consecutive months, driving the recovery of profits to accelerate. From January to November, the operating income of industrial enterprises above designated size increased by 5.1% year-on-year, 11.1 percentage points faster than that from January to October. Among them, the operating income of industrial enterprises above designated size increased by 0.1% year-on-year in November, 10.0 percentage points faster than that in October, and rebounded for five consecutive months.
In terms of industries, nearly sixty percent of the industry's profits increased, and eighty percent of the industry's profit growth rebounded. From January to November, among the 1 major industrial industries, 11 industries had a year-on-year increase in profits, with a profit growth rate of 41.24 percent, an increase of 58.5 percentage points from January to October; 1 industries had a profit growth rate that accelerated or narrowed the decline from January to October, and turned from a decline to an increase, with a profit recovery of 10.14 percent, an increase of 6.33 percentage points from January to October.
Among them, the profit growth of the equipment manufacturing industry has accelerated, and the driving role has been enhanced. From January to November, the profits of the equipment manufacturing industry increased by 1.11% year-on-year, 2.8 percentage points faster than that from January to October, and the industrial profits above the designated size increased by 1.10 percentage points, an increase of 1.7 percentage points from January to October. In the month of November, the profit of the equipment manufacturing industry turned from a decline to an increase, with a growth rate of 0.9%.
Yu Weining also mentioned that the profits of different types of enterprises have improved, and the profits of private enterprises have changed from decline to increase. From January to November, among the industrial enterprises above designated size, the profits of state-controlled enterprises, foreign-funded enterprises, and enterprises with investment from Hong Kong, Macao, and Taiwan narrowed by 1.11 and 1.10 percentage points year-on-year respectively compared with those from January to October, while the profits of private enterprises increased by 3.7 percent, turning from decline to increase for the first time this year. (ENDS)