(China, 27th) Official data from China shows that in the first quarter, the total profit of large industrial enterprises increased by more than 15% year-on-year.
According to the latest data released on the official website of the National Bureau of Statistics of China on Monday (April 27), from January to March, large-scale industrial enterprises nationwide achieved a total profit of 1.696 trillion yuan (RMB, equivalent to 980.69 billion MYR), a year-on-year increase of 15.5%. In March alone, the profits of these enterprises grew by 15.8% year-on-year.
According to the data, from January to March, large industrial enterprises achieved an operating income of 33.19 trillion yuan, an increase of 5.0% year-on-year; operating costs were 28.19 trillion yuan, an increase of 4.5%; the profit margin of operating income was 5.11%, up by 0.46 percentage points compared to the same period last year.
Yu Weining, Chief Statistician of the Industry Department at the National Bureau of Statistics, explained that in the first quarter, facing a complex economic environment, Chinese authorities promptly increased macroeconomic policy control, proactively implemented more active and effective macro policies, resulting in a steady recovery of the industrial economy and accelerated profit growth of large-scale industrial enterprises. There was rapid profit growth in equipment manufacturing and high-tech manufacturing, double-digit profit growth in raw material manufacturing, and continuous improvement in the profitability of industrial enterprises.
However, Yu Weining also pointed out that there are still many uncertainties in the external environment recently, and the imbalance between strong supply and weak demand in the domestic market still needs to be resolved.
According to the data, from January to March, large industrial enterprises achieved an operating income of 33.19 trillion yuan, an increase of 5.0% year-on-year; operating costs were 28.19 trillion yuan, an increase of 4.5%; the profit margin of operating income was 5.11%, up by 0.46 percentage points compared to the same period last year.
Yu Weining, Chief Statistician of the Industry Department at the National Bureau of Statistics, explained that in the first quarter, facing a complex economic environment, Chinese authorities promptly increased macroeconomic policy control, proactively implemented more active and effective macro policies, resulting in a steady recovery of the industrial economy and accelerated profit growth of large-scale industrial enterprises. There was rapid profit growth in equipment manufacturing and high-tech manufacturing, double-digit profit growth in raw material manufacturing, and continuous improvement in the profitability of industrial enterprises.
However, Yu Weining also pointed out that there are still many uncertainties in the external environment recently, and the imbalance between strong supply and weak demand in the domestic market still needs to be resolved.