BEIJING, May 27 -- China's major industrial firms posted double-digit profit growth in the first four months of this year, the National Bureau of Statistics (NBS) said Saturday.
Industrial companies with annual revenues of more than 20 million yuan (about 2.92 million U.S. dollars) reported profits of 2.28 trillion yuan in the first four months, a 24.4-percent increase from one year earlier, the NBS said in a statement.
The profit growth has softened from a 28.3-percent increase in the first three months, but is still the highest January-April level since 2017.
In April alone, profits of major industrial firms rose 14 percent year on year to 572.78 billion yuan.
NBS statistician He Ping said the slowdown was "reasonable" after the breakneck growth in previous months, noting that there was still good momentum in industrial profit growth.
The industrial sector, which accounts for about one-third of China's GDP, started to pick up last year after profit declines in 2017, helped by government efforts to cut overcapacity and a recovery in the property sector.
Among the 41 industries surveyed, 38 posted year-on-year profit growth during the first four months.
Citing improving industrial indicators, He remains upbeat on the overall industrial performance, saying that there has been stronger support from consumer-goods manufacturing and high-tech manufacturing sectors, as well as a reduced debt burden.
In April, new profits from consumer-goods manufacturing accounted for 21.6 percent of the overall profit increase, up 9.8 percentage points from the March level, while high-tech manufacturing accounted for 23.2 percent of the total, up 19 percentage points from the previous month.
In the four months, major industrial firms also saw profitability of their primary business edge up 0.53 percentage points to 6.04 percent. By the end of April, their debt-asset ratio dropped 0.6 percentage points to 56.2 percent.
However, He pointed out that sectors like steel-making, auto-manufacturing and chemicals had witnessed significant declines in profit growth due to falling industrial price gains, lower production and sales growth and rising costs.
Profits from ferrous metal companies dropped 7.8 percent year on year in April, compared with a 1.3-fold increase in March, while auto makers reported a 6.7 percent drop in profits, down from a 18.7 percent rise in March.
He also attributed the overall growth decline to a slower rise in finished products and raw materials prices.
China's producer inflation continued to ease in April as retreating commodity prices pushed down factory-gate prices. The producer price index, which measures costs of goods at the factory gate, rose 6.4 percent year on year last month, compared with a 7.6 percent growth in March.
The statistician cautioned that a faster growth in producer purchasing prices, which climbed 9 percent in April, than that of factory-gate prices could lead to higher costs in midstream and downstream industries.
Rising financial expenses could also push up funding costs, he warned. In April, financial expenses of major industrial companies rose 4.2 percent year on year, accelerating from 3 percent in March.
China's value-added industrial output, an important economic indicator, expanded 6.5 percent year on year in April. For the first four months, industrial production expanded 6.7 percent year on year, according to previous NBS data.
专家锦囊:中考英语备考复习绝招
名师指导:中考英语快速提分捷径
中考英语前一个月回归基础更重要
09中考备考宝典之英语短语集中联想记忆汇总(四)
英语备考复习之中考考点回顾
2009英语中考备考复习之部分否定的七种表示方法
2009英语中考备考代词复习之物主代词和替代词
09中考名师坐阵指导英语冲刺复习
09中考备考秘笈 英语阅读理解带着问题找答案
09中考备考宝典之英语短语集中联想记忆汇总(一)
动名词在句中的功能 英语分数巧记忆
2009北京中考英语考生考前必读
2009中考英语备考复习指导之语法集锦
推荐:2009中考英语各题型拿得最高分策略
2009年中考英语“端午节”完型填空训练
2009英语中考备考复习之主动语态变被动语态
2009英语中考备考代词复习汇总之人称代词
备考专家:中考英语冲刺高分四大妙招
2009中考英语备考攻略——快速突破听力
09中考英语阅读完形写作答题指南
09中考备考宝典之英语短语集中联想记忆汇总(三)
中考英语单词记忆之熟词新义
09中考备考宝典之英语短语集中联想记忆汇总(二)
中考英语语法考点导练系列——名词
2009年武汉市中考英语备考建议
2009中考英语考试说明解读:阅读理解将成拉分题
英语知识巧记口诀 轻松记忆知识点
09中考英语备考宝典 让“耳朵”提前进入考试状态
2009年北京中考英语单项选择模拟题
中考英语写作如何"妙笔生花"?
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |