According to data released by the National Bureau of Statistics of China on the 27th, from January to April this year, the total profits of industrial enterprises above designated size across the country were 2,032.88 billion yuan, a year-on-year decrease of 20.6%.
Compared with the previous data, from January to April this year, the decline in the total profits of industrial enterprises above designated size in China narrowed for the second consecutive month. During the same period, the year-on-year growth rate of operating income of industrial enterprises above designated size turned from negative to positive, with a slight increase of 0.5%.
From January to April, among the 41 major industrial sectors, the total profit of 13 industries increased year-on-year, 1 industry remained flat, and 27 industries declined. Among them, the total profit of electricity, heat production and supply industry increased by 47.2% year-on-year, the electrical machinery and equipment manufacturing industry increased by 30.1%, while the petroleum, coal and other fuel processing industry decreased by 87.9%, and the ferrous metal smelting and rolling processing industry decreased by 99.4%.
Sun Xiao, a statistician from the Industry Department of the National Bureau of Statistics, pointed out that the profits of the equipment manufacturing industry recovered significantly in April. Affected by factors such as the good development of the new kinetic energy industry and the low base in the same period, the profit of the equipment manufacturing industry increased by 29.8% year-on-year, realizing a shift from decline to increase, driving the profit growth of industrial enterprises above designated size by 6.4 percentage points, which is the industry sector with the largest driving effect .
During the month, the profit of foreign-funded enterprises changed from a decline to an increase, and the decline in the profits of private enterprises narrowed significantly. In April, driven by the automobile and other industries, the profits of foreign and Hong Kong, Macao and Taiwan-invested enterprises increased by 16.3% year-on-year, turning from a decline in March to positive growth, and the growth rate picked up for two consecutive months. The decline in private enterprise profits narrowed by 7.3 percentage points compared with March.
Pang Ming, Chief Economist and Research Director of Jones Lang LaSalle Greater China, told reporters from China News Agency that the data show that industrial enterprises continue to be affected by the base effect, short-term pressure on economic recovery and PPI (industrial producer price) ) downside and many other factors. Whether the profit growth rate of industrial enterprises can turn positive year-on-year is closely related to the shape, rhythm, strength and sustainability of the overall economic recovery. He pointed out that considering the current slow recovery of China's domestic demand and the many uncertainties faced by external demand, the "weak recovery" of social effective demand has continued to put pressure on the capacity utilization rate of enterprises, and the rigidity of superimposed operating costs will affect the profit growth of industrial enterprises. The speed and rhythm of the rapid rebound should be more patient. The year-on-year profit growth rate of industrial companies may have to wait until the fourth quarter.
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