Industrial Profits in China Show Growth in First Quarter of 2021
People’s Daily Online, Beijing, April 27 (Reporter Yang Xi) – According to data released by the National Bureau of Statistics on April 27, industrial enterprises above designated size in China achieved a total profit of 1.50553 billion yuan from January to March, 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 several key points regarding industrial profits in the first quarter of 2021:
– Industrial enterprise profits maintained growth, with profits of industrial enterprises above designated size 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 industry growing by 29.1% year-on-year.
– The equipment manufacturing industry played a significant role in profit growth, with profits increasing by 18.0% year-on-year.
Yu Weining emphasized that while industrial profits are on a growth trajectory, the recovery is uneven, and the foundation for efficiency improvement is not yet solid. To further boost industrial profits, he suggested implementing policies to update equipment and promote consumer goods trade-ins, as well as focusing on expanding domestic demand and strengthening industrial consolidation.
The positive growth in industrial profits during the first quarter of 2021 reflects a promising outlook for China’s industrial sector, signaling a continued recovery and improvement in the industrial economy.