National Bureau Of Statistics: From 1 To October, Industrial Profits Above Designated Size Decreased By 2.9% Over The Same Period Last Year.

According to the latest financial data released by the National Bureau of statistics, from 1 to October, the total profit of Industrial Enterprises above Designated Size reached 5 trillion and 15 billion 100 million yuan, down 2.9% from the same period last year. Nevertheless, the profit growth of high-tech industries and strategic emerging industries is still growing faster, and structural adjustment continues to advance.

From 1 to October, the efficiency of Industrial Enterprises above Designated Size showed the main characteristics of speeding up structural adjustment, maintaining steady growth in profits of private enterprises and small enterprises, and decreasing asset liability ratio of enterprises.

Specifically, from 1 to October, the profit growth of high-tech manufacturing, strategic emerging industries and equipment manufacturing industry increased by 1 over the year September. (the profit of high-tech manufacturing, strategic emerging industries and equipment manufacturing industry increased by 7.5%, 5.3% and 2% respectively over the same period), and the growth rate increased by 1.2, 0.7 and 1.1 percentage points respectively from 1 to September.

What is worth mentioning is that the profit of automobile industry has dropped by 14.7% compared with the same period last year, but the decline has narrowed by 1.9 percentage points from 1 to September. In addition, from 1 to October, private enterprises and small business profits increased by 5.3% and 8.8% respectively, and maintained steady growth.

Insiders say that the drop in profits of Industrial Enterprises above designated size is mainly caused by the drop in factory prices and the slowdown in production and sales, which is also closely related to the global economic downturn. At present, the state has promulgated a series of policies to increase investment and expand domestic demand. Under the background of the general decline of raw material prices, the cost pressures of the middle and lower reaches have been reduced.

Zhang Liqun, a researcher at the Institute of macroeconomics of China Research Center, For example, now that we are strengthening water conservancy construction, we are doing some major projects in the long term. That is true, the cost of this project has dropped significantly. Now, buying various materials, including other cost, is decreasing at present. So now is also a favorable window period.