Profits of industrial companies improve in May – Xinhua English.news.cn

The National Bureau of Statistics announced on the 27th that in May, the profits of industrial enterprises above designated size fell by 6.5% year-on-year, a decrease of 2.0 percentage points from the previous month. From January to May, the profits of industrial enterprises above designated size increased by 1.0% year-on-year.

In May, the overall situation of domestic epidemic prevention and control was gradually improving. Enterprises resumed work and production, logistics ensured smooth and orderly progress, and production and operation of industrial enterprises gradually resumed. The operating income of industrial enterprises above designated size increased by 6.8% year-on-year, and the sales situation improved. Improvements have created favorable conditions for corporate profits.

Zhu Hong, senior statistician of the Industrial Department of the National Bureau of Statistics, analyzed that in May, the effect of tax cuts and fee reductions and the bailout policies for enterprises continued to be released, and the cost burden of industrial enterprises continued to be reduced. The cost per 100 yuan of operating income of industrial enterprises above designated size was 7.56 yuan. Yuan, a decrease of 0.07 yuan and 0.56 yuan respectively from the previous month and the same period of the previous year.