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In November, The Growth Rate Of Industrial Profit Changed From Negative To Positive, And The Decline Of Textile Industry Profit Narrowed

Date:Dec 27, 2019

According to the financial data of industrial enterprises released by the National Bureau of Statistics today (27th), in November, the total profits of Industrial Enterprises above designated size increased by 5.4% year on year, with the growth rate changing from negative to positive. The profits of key industries such as petrochemical, steel and other industries recovered significantly, and the profit growth of consumer goods manufacturing industry accelerated.


According to the data, in November, the total profits of Industrial Enterprises above designated size increased by 5.4% year on year, and the growth rate changed from negative to positive. The decrease of cumulative profit from January to November was also narrower than that from January to October.


From the perspective of industry, it is mainly affected by factors such as the recovery of market demand and the rise of product prices. The sales growth of key industries such as chemical industry, petroleum processing, steel and so on has accelerated, and the profits have significantly recovered. In November, the year-on-year decrease in the profits of chemical raw materials and chemical products manufacturing industry was 151.5 percentage points lower than that in October; the year-on-year growth in the profits of petroleum, coal and other fuel processing industry changed from negative to positive.


In November, the profit of consumer goods manufacturing industry increased by 8.2% year on year, 3.1 percentage points faster than that in October. Among them, the profit growth of food manufacturing industry, paper making industry and paper products industry was accelerated, while the profit decline of textile industry was narrowed.


It is worth mentioning that in November, the profits of state-owned holding enterprises increased by 0.6% year-on-year, reversing the trend of continuous decline since the second half of this year. The profit growth of enterprises invested by foreign businessmen, Hong Kong, Macao and Taiwan turned from negative to positive, and the profit growth of private enterprises and small enterprises accelerated.