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According to the latest data from the China Statistics Bureau, industrial enterprises' profits continued to decline year on year in September, the biggest decline since January to February this year, mainly affected by the decline in industrial prices and the slowdown in sales growth. However, analysts pointed out that from the perspective of the quarterly decline in profits in the first, second and third quarters and the near zero growth rate of inventory, with the gradual development of the counter cyclical policy, and the easing of trade frictions between China and the United States bringing about peripheral areas. Environmental improvement, industrial operation may be bottoming out.
The Bureau of Statistics announced on Sunday that the total profit of Industrial Enterprises above Designated Size in September was RMB 575.58 billion, down 5.3% year on year, and the year-on-year growth rate continued to expand compared with the year-on-year drop of 2% in August, which was the lowest since January February this year; the total profit of the previous September was RMB 4593.35 billion, down 2.1% year-on-year, and the drop rate increased compared with the 1.7% in August.
Zhu Hong, Senior Statistician of the industry department of the Bureau of statistics, pointed out that the year-on-year drop in industrial enterprises' profits in September was larger than that in August, which was mainly affected by the expansion of the drop in the factory price of industrial products, the slowdown in sales growth and other factors.
"In the first three quarters of 2019, the total profits of Industrial Enterprises above designated size decreased by 2.1% year on year. Among them, the decline was 3.3% in the first quarter, 1.9% in the second quarter and 1.8% in the third quarter, showing a trend of narrowing quarter by quarter. "
Zhu Hong said that in the first three quarters, the structural improvement of industrial enterprises' benefits was mainly reflected in the increase of profit growth industries, the acceleration of profit growth in high-tech manufacturing industry and strategic emerging industries, and the recovery of profits in the automobile and electronics industry, which led the profit growth of the equipment manufacturing industry from negative to positive.
According to its introduction, in the first nine months, the profits of power and heat production and supply industry, non-metallic mineral products industry, electrical machinery and equipment manufacturing industry, wine and beverage and refined tea manufacturing industry increased by 13.7%, 11.8%, 13.5% and 17.2% respectively year on year. In total, the profits of all the above-mentioned industrial enterprises increased by 2.7 percentage points year on year.


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