Statistics Bureau released news that in the first half of this year, China's 22 regions achieved a profit of 894.14 billion yuan, down 21.2% year-on-year, a decrease of 3.4 percentage points from January to May.
From an industry perspective, industries with significantly higher profits or smaller declines are still concentrated in areas that benefit from fiscal stimulus. Among the 39 industrial categories surveyed, 27 industries were profitable. The profit of non-ferrous metal smelting and rolling processing industry was 13.91 billion yuan, an increase of 4.98 billion yuan from January to May. The profit of petroleum processing and coking industry was 41.14 billion yuan, up 193.3% year-on-year. The power industry earned 7.7 billion yuan, from January to May. The profit increased by 2.34 billion yuan, and the profit of special equipment manufacturing industry increased by 4.4% year-on-year. The growth rate was 1.7 percentage points higher than that of January-May.
In addition, the profit of the steel industry decreased by 85.0% year-on-year, which was slightly narrower than the year-on-year decline of 97.2% from January to May. The transportation equipment manufacturing industry decreased from a drop of 7.2% in January-May to a decline of 1.1%, and the profit of the chemical fiber industry decreased from a decrease of 30.7% in January-May to a decrease of 4.6%.
"Although overall, industrial profits still showed negative year-on-year growth, but the year-on-year decline has narrowed, and the rebound of some industries' ring-to-quarter data indicates that China's industrial production has clearly shown signs of bottoming out." Chief Economics of Industrial Bank's Capital Operation Center The political commissar Lu said.
At the same time, data on industrial accounts receivable shows that optimism about future economic growth is strengthening. According to statistics from the Bureau of Statistics, industrial receivables in 22 regions at the end of June were 316.61 billion yuan, a year-on-year increase of 9.1%, an increase of 0.5 percentage points over the end of May.
From an industry perspective, industries with significantly higher profits or smaller declines are still concentrated in areas that benefit from fiscal stimulus. Among the 39 industrial categories surveyed, 27 industries were profitable. The profit of non-ferrous metal smelting and rolling processing industry was 13.91 billion yuan, an increase of 4.98 billion yuan from January to May. The profit of petroleum processing and coking industry was 41.14 billion yuan, up 193.3% year-on-year. The power industry earned 7.7 billion yuan, from January to May. The profit increased by 2.34 billion yuan, and the profit of special equipment manufacturing industry increased by 4.4% year-on-year. The growth rate was 1.7 percentage points higher than that of January-May.
In addition, the profit of the steel industry decreased by 85.0% year-on-year, which was slightly narrower than the year-on-year decline of 97.2% from January to May. The transportation equipment manufacturing industry decreased from a drop of 7.2% in January-May to a decline of 1.1%, and the profit of the chemical fiber industry decreased from a decrease of 30.7% in January-May to a decrease of 4.6%.
"Although overall, industrial profits still showed negative year-on-year growth, but the year-on-year decline has narrowed, and the rebound of some industries' ring-to-quarter data indicates that China's industrial production has clearly shown signs of bottoming out." Chief Economics of Industrial Bank's Capital Operation Center The political commissar Lu said.
At the same time, data on industrial accounts receivable shows that optimism about future economic growth is strengthening. According to statistics from the Bureau of Statistics, industrial receivables in 22 regions at the end of June were 316.61 billion yuan, a year-on-year increase of 9.1%, an increase of 0.5 percentage points over the end of May.
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