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The Industrial Profit Continues to Grow Faster from January to October 2018

Submit Time:14-01-2019 | Zoom In | Zoom Out

Author: | Source:National Bureau of Statistics 2018-11-27

Abstract:

  

  According to the financial data of industrial enterprises released by the National Bureau of Statistics on November 27, the total profits of industrial enterprises nationwide above designated size increased by 13.6% from January to October 2018, which dropped by 1.1% compared to that from January to September, but maintained rapid growth on the whole. Specifically, the profits grew by 3.6% in October, declined by 0.5% over September. In this regard, Dr. He Ping, from the Department of Industrial Statistics of the National Bureau of Statistics, gave his interpretation.

  I. New profits mainly come from industries such as steel, oil, building materials and chemical industries

  From January to October, the profits increased by 63.7% in the iron and steel industry, 3.7 times in the oil mining industry, 25.2% in the oil processing industry, 45.9% in the building materials industry and 22.1% in the chemical industry, and these five industries contributed 75.7% together to the profit growth of industrial enterprises above designated size.

  II. The profit rate improves

  From January to October, the profit rate of main business income of industrial enterprises above designated size was 6.44%, increased by 0.24% over the same period last year. With regard to the three major industrial categories, the profit rate of the mining industry was 13.12%, increased by 3.47%; that of the manufacturing industry was 6.14%, increased by 0.12%; that of electricity, thermal, gas and water production and supply industries was 6.18%, declined by 0.23%.

  III. Enterprise cost goes down

  From January to October, the cost and expense per RMB 100 of main business income of industrial enterprises above designated size totaled RMB 92.59, declined by RMB 0.25 on a year-on-year basis; among which, the cost per RMB 100 of main business income was RMB 84.27, declined by RMB 0.25 on a year-on-year basis.

  IV. Asset-liability ratio declines 

  At the end of October, the asset-liability ratio of industrial enterprises above designated size was 56.7%, 0.5% down over the same period last year. Specifically, the asset-liability ratio of state-owned holding enterprises was 59%, 1.6% down over the same period last year.

  Judging from the current situation in October, the growth rate of industrial profit slowed down compared to that in September mainly due to the factors such as growth slowdown of the ex-factory prices of industrial products and higher profit base of previous year.


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