Profits Of Chinese Industrial Enterprises Continued To Rise In The First 11 Months Of This Year

The cumulative profit growth rate of China's industrial enterprises has been steadily rising since October.

China's Industrial Enterprises above Designated Size realized a total profit of 5744.5 billion yuan (RMB, the same below) from January to November, a year-on-year increase of 2.4%, 1.7 percentage points higher than that of January October, the National Bureau of Statistics announced on the 27th.

According to Zhu Hong, Senior Statistician of the industry department of the National Bureau of statistics, the improvement of the market situation has led to the continuous rise of enterprise profits. From January to November, the added value of industries above designated size increased by 2.3% on a year-on-year basis, 0.5 percentage points faster than that from January to October; among them, the growth rate in November was 7.0%, which was the monthly peak since this year. From January to November, the operating income of Industrial Enterprises above designated size increased by 0.1% year on year, and the growth rate turned from negative to positive for the first time in the year.

The profit growth of equipment and high-tech manufacturing industries accelerated. From January to November, the profits of equipment manufacturing industry increased by 11.2% year on year, 1.6 percentage points faster than that of January October, and the profits of industries above designated size increased by 3.8% year-on-year; the profits of high-tech manufacturing industry increased by 15.0% year-on-year, 3.1% faster than that from January to October.

The profitability of some traditional industries has improved. With the arrival of the heating season, the demand and price of steam coal increased, which accelerated the recovery of coal industry profits. In November, the profit increased by 9.1% year-on-year, and the growth rate achieved positive growth for the first time in the year. From January to November, the profit of coal industry decreased by 24.5% year-on-year, and the decline rate was 3.2 percentage points narrower than that from January to October.

It is worth mentioning that from January to November, the cost per 100 yuan operating income of Industrial Enterprises above designated size was 84.08 yuan, down 0.01 yuan year-on-year, and the accumulated unit cost fell for the first time since this year.

From the single month of November, the profits of Industrial Enterprises above designated size increased by 15.5% on a year-on-year basis, and the growth rate was somewhat lower than that in October, but it still maintained a double-digit rapid growth. Zhu Hong said that the decline in profit growth in the month was mainly due to the low base value in the same period in October and the weakening of low base effect in November.

At the same time, Zhu Hong cautioned that enterprises should pay attention to the increase of accounts receivable and finished goods inventory. At the end of November, the accounts receivable of Industrial Enterprises above designated size increased by 16.5% year-on-year, 0.6% higher than that at the end of October, and has continued to double-digit growth and fluctuated upward since May; the inventory of finished products increased by 7.3% year-on-year, and the growth rate was 0.4% higher than that at the end of October. (reporter Wang Enbo)