In May, the profits of industrial enterprises above designated size continued to improve, and the overall profits of the chemical industry decreased

On June 28th, the National Bureau of Statistics released a monthly report on industrial economic benefits. The report shows that in May, as industrial production continued to recover, the profits of industrial enterprises above designated size nationwide decreased by 12.6% year-on-year, a decrease of 5.6 percentage points compared to April, and narrowed for three consecutive months. Enterprise profits showed a steady recovery trend.

Data shows that from January to May, industrial enterprises above designated size nationwide achieved a total profit of approximately 2.67 trillion yuan, a year-on-year decrease of 18.8%, a decrease of 1.8 percentage points compared to January to April.

From January to May, among the 41 major industrial industries, the total profit of 14 industries increased year-on-year, 1 industry remained flat, 24 industries decreased, and 2 industries turned from profit to loss. Among them, the oil and natural gas exploitation industry declined 9.9%, the Coal mining and washing industry declined 18.7%, the chemical raw materials and chemical products manufacturing industry declined 52.4%, and the oil, coal and other fuel processing industry declined 92.8%.

From January to May, industrial enterprises above designated size achieved a revenue of 51.39 trillion yuan, a year-on-year increase of 0.1%; Operating costs incurred amounted to 43.83 trillion yuan, an increase of 1.2%; The operating revenue profit margin was 5.19%, a year-on-year decrease of 1.21 percentage points.

Sun Xiao, Statistician of the Industry Department of the National Bureau of Statistics, said when interpreting the profit data of industrial enterprises, in general, the profit of industrial enterprises continued to recover, but it should also be noted that the external environment has become more complex and severe, domestic demand is still insufficient, which restricts the further recovery of enterprise profits, and the foundation for the recovery of industrial enterprise profits is still not solid. In the next stage, we should implement various policies and measures to promote the sustained recovery of the economy, focus on expanding Effective demand, improve the level of production and marketing convergence, deeply implement the innovation driven development strategy, constantly enhance the momentum of development, and promote the sustained consolidation and recovery of the industrial economy.

Author: Liu Jingcai Source: China Chemical Daily