“National Bureau of Statistics: Industrial Production Recovers in April, Corporate Profits Narrow Decline”

　　CCTV news: According to data released by the National Bureau of Statistics on May 27, in April, domestic industrial production continued to recover, corporate revenue growth accelerated, and the decline in industrial corporate profits continued to narrow.

In April, the operating income of industrial enterprises above designated size across the country increased by 3.7% year-on-year, and the growth rate was 3.1 percentage points faster than that in March. Industrial production continued to recover.

　　The decline in profits of industrial enterprises above designated size continued to narrow in April

The rate of decline in corporate profits continued to narrow. In April, the profits of industrial enterprises above designated size fell by 18.2% year-on-year, which was 1.0 percentage points lower than that in March and narrowed for two consecutive months. Among the 41 major industrial sectors, the profit growth rate of 23 industries accelerated or the rate of decline narrowed compared with that in March, and turned from a decline to an increase.

　　The profits of the equipment manufacturing industry recovered significantly in April

The profits of the equipment manufacturing industry recovered significantly. In April, the profits of the equipment manufacturing industry increased by 29.8% year-on-year, turning from a decline to an increase, driving the profits of industrial enterprises above designated size to increase by 6.4 percentage points. Among them, the profit of the automobile industry increased the most, a substantial increase of 20.4 times compared with last year, and the profits of the electrical machinery industry and the general equipment industry recovered significantly, with an increase of 37.5% and 63.7% respectively.

Experts said that in April, the profitability of my country’s industrial enterprises continued to recover, but we must also see that industrial enterprises still face more difficulties in the continuous recovery of profitability. In the next stage, efforts should be made to restore and expand demand, further improve the level of connection between production and sales, continue to boost the confidence of business entities, and promote the continued recovery of the industrial economy.

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