China News Service, Beijing, March 27 (Reporter Wang Enbo) The performance of Chinese industrial enterprises is emerging from the downturn and continues to recover. The National Bureau of Statistics of China announced on the 27th that from January to February, the profits of industrial enterprises above designated size nationwide increased by 10.2% year-on-year, and profits turned from a 2.3% decline in the previous year to positive growth.
Looking at each month, the profits of China's industrial enterprises above designated size have continued to grow year-on-year since August last year. From January to February this year, they continued to recover and the profits of industrial enterprises started steadily.
Yu Weining, a statistician at the Industrial Department of the National Bureau of Statistics, said that as market demand continues to recover, industrial production has grown rapidly. From January to February, the operating income of industrial enterprises above designated size increased by 4.5% year-on-year, which was higher than the annual revenue growth of the previous year. With a growth rate of 3.4 percentage points, corporate revenue has rebounded significantly, creating favorable conditions for profit growth.
From January to February, among the 41 major industrial industries, 29 industries saw profits increase year-on-year, with a growth rate of 70.7%, an expansion of 4.8 percentage points over the previous year. Broken down by category, profits from the manufacturing, electricity, heating, gas and water production and supply industries all achieved double-digit growth.
The profit performance of industry sectors related to new productivity has been outstanding. From January to February, the profits of the equipment manufacturing industry increased by 28.9% year-on-year, and the growth rate was 24.8 percentage points faster than the previous year. It drove the profit growth of industrial enterprises above designated size by 6.7 percentage points, and the contribution rate reached 65.9%. During the same period, profits in the high-tech manufacturing industry shifted from a decline of 8.3% in the previous year to a growth of 27.9%, a growth rate that was 17.7 percentage points higher than the average level of industrial enterprises above designated size.
Benefiting from the recovery in consumption, profits from the consumer goods manufacturing industry grew rapidly. From January to February, profits in the consumer goods manufacturing industry shifted from a 1.1% decline in the previous year to a year-on-year increase of 12.9%. Profits increased in 11 of the 13 consumer goods manufacturing industries.
The data also shows that the vitality of various business entities and enterprises of different sizes continues to increase. From January to February, among industrial enterprises above designated size, the profits of state-controlled enterprises increased by 0.5% year-on-year, the profits of private enterprises increased by 12.7%, the profits of foreign and Hong Kong, Macao and Taiwan-invested enterprises increased by 31.2%; the profits of large, medium and small enterprises increased by 8.0% and 8.0% respectively. 6.0%, 18.9%. (over)