Industrial Profits in China Show Growth in First Quarter
According to data released by the National Bureau of Statistics, industrial enterprises above designated size in China achieved a total profit of 1.50553 billion yuan in the first quarter of this year, marking a year-on-year increase of 4.3%.
Yu Weining, a statistician at the Industrial Department of the National Bureau of Statistics, attributed this growth to the implementation of macro-combination policies and the gradual improvement in market demand. He highlighted the following key points regarding industrial profits in the first quarter:
– Industrial enterprise profits maintained growth, with profits increasing by 4.3% year-on-year.
– Industrial enterprise revenue continued to recover, with operating income increasing by 2.3% year-on-year.
– Nearly 70% of industries saw profit growth, with 28 out of 41 major industrial industries experiencing an increase in profits.
– High-tech manufacturing led industrial profit growth, with profits from the sector growing by 29.1% year-on-year.
– The equipment manufacturing industry played a significant role in profit growth, driving the overall profit growth of industrial enterprises.
Yu Weining emphasized the need for continued efforts to support the recovery of industrial profits, noting that the foundation for the recovery of industrial enterprises’ efficiency is still not solid. He called for the implementation of policies to promote equipment updates and consumer goods trade-ins, as well as the acceleration of the construction of a modern industrial system.
Overall, the data reflects a positive trend in industrial profits in China, signaling a potential recovery in the industrial economy. As the country focuses on expanding domestic demand and strengthening industrial consolidation, the outlook for industrial performance remains optimistic.
(Editors: Yang Xi, Gao Lei)
Follow the public account: People.com Finance