China'S Large-Scale Industrial Economy Recovered Steadily, And Enterprise Profits Continued To Grow Year On Year

Since the beginning of this year, in the face of the complex and severe economic situation at home and abroad, all regions and departments have strengthened their efforts to stabilize growth and support the real economy. The data released by the National Bureau of statistics on March 27 showed that in the first two months, the industrial economy recovered steadily and the profits of enterprises continued to grow year on year.

From January to February, the total profits of Industrial Enterprises above Designated Size nationwide reached 1157.56 billion yuan, an increase of 5.0% year-on-year, and the growth rate increased by 0.8% compared with December last year. What is particularly rare is that the growth of industrial enterprises' profits was achieved on the basis of a higher base in the same period last year. Among the 41 major industries, 22 industries achieved year-on-year profit growth or loss reduction, and 15 of them achieved a profit growth rate of more than 10%. Driven by such factors as boosting consumption during the Spring Festival, profits of some consumer goods enterprises have increased rapidly.

From January to February, the profits of textile, food manufacturing, culture, education, industry and beauty industries increased by 13.1%, 12.3% and 10.5% respectively. In addition, the profits of electrical machinery and equipment manufacturing and special equipment manufacturing industry increased significantly. Driven by the rising prices of international raw materials and energy and other factors, the profits of oil and gas exploitation, coal mining and dressing, nonferrous metal smelting, chemical industry and other industries grew rapidly.

On the whole, the economic performance of industrial enterprises has continued the recovery trend since last year. In particular, with the rapid growth of enterprise assets, the asset liability ratio has decreased. At the end of February, the asset liability ratio of Industrial Enterprises above designated size was 56.3%, which continued to decline.

(source: CCTV)