The National Bureau of Statistics announced on the 26th that from January to February, the national industrial enterprises above designated size (the enterprises with a main business income of more than 5 million yuan, the same below) realized a profit of 486.74 billion yuan, a year-on-year increase of 119.7%.
Among the 39 major industrial sectors, the profit of the power industry increased by 17.8 times, the transportation equipment manufacturing industry increased by 2.7 times, the special equipment manufacturing industry increased by 74.5%, the chemical fiber industry increased by 86.1 times, and the chemical industry increased by 1.7 times. The natural gas mining industry grew by 3.5 times, the petroleum processing and coking industry increased by 18.5%, the electronic communication equipment manufacturing industry increased by 5.6 times, the coal mining industry increased by 91.9%, the building materials industry increased by 88.4%, and the steel industry suffered a loss of 7 years. 200 million yuan was converted into a profit of 17.67 billion yuan, and the non-ferrous metal smelting and rolling processing industry was converted from a loss of 1.63 billion yuan to an increase of 14.07 billion yuan.
According to the interpretation of the National Bureau of Statistics, from January to February last year, the profits of industrial enterprises above designated size fell by 37.3% year-on-year, and the current growth rate was 119.7%. The main reason for the decline in industrial profits from the same period last year was two-fold:
First, the growth rate of industrial production and sales has increased substantially. As a number of national policies stimulated domestic demand and exports to pick up, industrial production growth rate increased from a low of 3.8% in the same period last year to a high-speed growth of 20.7%. The income from industrial main business decreased from 3.1% in the same period last year to a sharp increase of 39.7. %, making industrial profits increase significantly.
Second, the ex-factory price index (PPI) of industrial products changed from a decline to a significant increase. As demand increased, the PPI decreased from 3.9% in the same period of last year to 4.9%, and the profits of oil, steel, nonferrous metals, chemicals, chemical fiber and electric power industries, which were greatly affected by price increases, doubled.
However, the Bureau of Statistics stressed that although the current increase in industrial profits is relatively high, it is still a recovery. There are three reasons for this: First, industrial profits fell by 37.3% from January to February last year, and the base was very low. For the same period in 2008, the average profit of January-February this year increased by 17.4%, which is still significantly lower than the historical average increase of 30% in the past 10 years.
Second, the industrial profit rate only returned to the level before the international financial crisis. From January to February this year, the industrial main business income profit rate, cost expense profit rate and asset profit rate were 5.69%, 6.14%, and 1.02%, respectively, although they increased significantly by 2.07, 2.34, and 0.48 percentage points over the same period of last year, but only compared with 2008. The slight increase of 0.12, 0.19, and 0.02 percentage points from January to February indicates that the industrial profit rate has only recovered to the level before the international financial crisis.
In addition, some major industry profits have not yet recovered to the pre-crisis level. Compared with the profit level in the same period of 2008, the profit of oil extraction, steel and electronics industries in January-February this year is still declining. The profit growth of non-ferrous industries is still very low. The power industry has a large decline compared with the profit in the same period of 2007. This year's profits in these industries have rebounded sharply year-on-year with significant recovery growth.
“In summary, the industrial profits in the first two months of this year have increased substantially. There are both positive factors for the economic recovery and rising demand, as well as the low base for the same period. Overall, the current sharp increase in industrial profits has a significant recovery. "The relevant person in charge of the National Bureau of Statistics said.
For the whole year's industrial profit trend, experts close to the National Bureau of Statistics told reporters that China's industrial profit growth in 2010 will be much higher than in 2009, in which the first quarter industrial profit growth will be the annual high, but the second half will Significantly falling back.
The expert said that after the outbreak of the most serious international financial crisis in the new century, in 2008-2009, the profits of China's industrial enterprises not only dropped sharply from the growth of previous years, but also the fluctuations in the quarters increased significantly. Especially in the fourth quarter of 2008, industrial profits fell by a rare 30%. This led to a sharp drop in industrial profits in the first quarter of 2009, especially in the first two months, and almost returned to the level three years ago. However, in the next three quarters, there has been a significant rebound. This situation will inevitably have an impact on the growth of industrial profits in 2010.
Among the 39 major industrial sectors, the profit of the power industry increased by 17.8 times, the transportation equipment manufacturing industry increased by 2.7 times, the special equipment manufacturing industry increased by 74.5%, the chemical fiber industry increased by 86.1 times, and the chemical industry increased by 1.7 times. The natural gas mining industry grew by 3.5 times, the petroleum processing and coking industry increased by 18.5%, the electronic communication equipment manufacturing industry increased by 5.6 times, the coal mining industry increased by 91.9%, the building materials industry increased by 88.4%, and the steel industry suffered a loss of 7 years. 200 million yuan was converted into a profit of 17.67 billion yuan, and the non-ferrous metal smelting and rolling processing industry was converted from a loss of 1.63 billion yuan to an increase of 14.07 billion yuan.
According to the interpretation of the National Bureau of Statistics, from January to February last year, the profits of industrial enterprises above designated size fell by 37.3% year-on-year, and the current growth rate was 119.7%. The main reason for the decline in industrial profits from the same period last year was two-fold:
First, the growth rate of industrial production and sales has increased substantially. As a number of national policies stimulated domestic demand and exports to pick up, industrial production growth rate increased from a low of 3.8% in the same period last year to a high-speed growth of 20.7%. The income from industrial main business decreased from 3.1% in the same period last year to a sharp increase of 39.7. %, making industrial profits increase significantly.
Second, the ex-factory price index (PPI) of industrial products changed from a decline to a significant increase. As demand increased, the PPI decreased from 3.9% in the same period of last year to 4.9%, and the profits of oil, steel, nonferrous metals, chemicals, chemical fiber and electric power industries, which were greatly affected by price increases, doubled.
However, the Bureau of Statistics stressed that although the current increase in industrial profits is relatively high, it is still a recovery. There are three reasons for this: First, industrial profits fell by 37.3% from January to February last year, and the base was very low. For the same period in 2008, the average profit of January-February this year increased by 17.4%, which is still significantly lower than the historical average increase of 30% in the past 10 years.
Second, the industrial profit rate only returned to the level before the international financial crisis. From January to February this year, the industrial main business income profit rate, cost expense profit rate and asset profit rate were 5.69%, 6.14%, and 1.02%, respectively, although they increased significantly by 2.07, 2.34, and 0.48 percentage points over the same period of last year, but only compared with 2008. The slight increase of 0.12, 0.19, and 0.02 percentage points from January to February indicates that the industrial profit rate has only recovered to the level before the international financial crisis.
In addition, some major industry profits have not yet recovered to the pre-crisis level. Compared with the profit level in the same period of 2008, the profit of oil extraction, steel and electronics industries in January-February this year is still declining. The profit growth of non-ferrous industries is still very low. The power industry has a large decline compared with the profit in the same period of 2007. This year's profits in these industries have rebounded sharply year-on-year with significant recovery growth.
“In summary, the industrial profits in the first two months of this year have increased substantially. There are both positive factors for the economic recovery and rising demand, as well as the low base for the same period. Overall, the current sharp increase in industrial profits has a significant recovery. "The relevant person in charge of the National Bureau of Statistics said.
For the whole year's industrial profit trend, experts close to the National Bureau of Statistics told reporters that China's industrial profit growth in 2010 will be much higher than in 2009, in which the first quarter industrial profit growth will be the annual high, but the second half will Significantly falling back.
The expert said that after the outbreak of the most serious international financial crisis in the new century, in 2008-2009, the profits of China's industrial enterprises not only dropped sharply from the growth of previous years, but also the fluctuations in the quarters increased significantly. Especially in the fourth quarter of 2008, industrial profits fell by a rare 30%. This led to a sharp drop in industrial profits in the first quarter of 2009, especially in the first two months, and almost returned to the level three years ago. However, in the next three quarters, there has been a significant rebound. This situation will inevitably have an impact on the growth of industrial profits in 2010.
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