National Bureau of Statistics: Profits of industrial enterprises grow rapidly, and operating income accelerates growth

The chief statistician of the Industrial Department of the National Bureau of Statistics, Yu Weining, stated that profits of industrial enterprises are growing rapidly, and the growth of operating revenue is accelerating. From January to February, the profits of industrial enterprises above designated size nationwide increased by 15.2% year-on-year, with the growth rate accelerating by 14.6 percentage points compared to the entire previous year. From the perspective of gross profit calculated by subtracting operating costs from operating revenue, in January to February, the gross profit of industrial enterprises above designated size increased by 6.9% year-on-year; it was flat for the entire previous year, strongly supporting the rapid growth in profits of industrial enterprises above designated size. Looking at the three major categories, in January to February, manufacturing grew by 18.9%, accelerating by 13.9 percentage points compared to the entire previous year; mining grew by 9.9%, whereas it had declined by 26.2% for the entire previous year; and the electricity, heat, gas, and water production and supply industry grew by 3.7%. Driven by factors such as accelerated production and a rebound in product prices, in January to February, the operating revenue of industrial enterprises above designated size increased by 5.3% year-on-year, with the growth rate accelerating by 4.2 percentage points compared to the entire previous year. The significant improvement in operating revenue growth has created favorable conditions for the recovery of enterprise profits.