Machinery / Industrial Parts & Tools

According to data released by the National Bureau of Statistics on the 27th, in the first five months of this year, industrial enterprises above designated size achieved a profit of 3,424.74 billion yuan, a year-on-year increase of 83.4%, an increase of 48.0% from January to May 2019, and an average increase of 21.7% over the two years.

Statistics show that from January to May, among 41 major industrial sectors, 39 industries have increased their profits year-on-year. Zhu Hong, a senior statistician at the Department of Industry of the National Bureau of Statistics, said that with the continuous consolidation of the results of the overall planning of epidemic prevention and control and economic and social development, the steady recovery of market demand, the continuous improvement of industrial enterprises' operating conditions, and the continuous and steady growth of corporate profits.

Looking at the month of May, the profits of industrial enterprises above designated size increased by 36.4% year-on-year, 44.6% year-on-year, and an average growth rate of 20.2% over the two years.

"In May, nearly 70% of the industry's profits increased year-on-year, and 80% of the industry's profits exceeded the same period in 2019." Zhu Hong said, among which, the profit of the raw material manufacturing industry has maintained rapid growth, and the profit growth of the consumer product manufacturing industry such as medicine has accelerated significantly.

On the one hand, benefiting from factors such as the recovery of market demand and rising commodity prices, in May, the profits of ferrous metals, non-ferrous metal smelting and rolling processing industries, chemical raw materials and chemical products manufacturing, petroleum and coal and other fuel processing industries increased rapidly. The four industries collectively drove the profits of industrial enterprises above designated size to increase by an average of 8.3% in two years.

On the other hand, driven by the strong demand for anti-epidemic and anti-epidemic materials such as the new crown vaccine and testing reagents, the profit of the pharmaceutical manufacturing industry maintained rapid growth. Profits in May increased by 85.7% year-on-year, and the two-year average growth rate was 50.9%, which was an increase of 23.6 and 12.5 respectively from April. Percentage points.

“Overall, the profitability of industrial enterprises continued to recover in a stable manner in May, but the imbalance in corporate profitability was more prominent, and the foundation for recovery is not yet solid.” Zhu Hong said that in the next stage, we must continue to promote reform and innovation to stimulate the vitality of market players. Help enterprises to alleviate difficulties, focus on guiding the return of bulk commodity prices to the fundamentals of supply and demand, and promote the sustained and stable recovery of the industrial economy.