The momentum of profit growth for industrial enterprises in China was strong in January and February

Chinese industrial enterprises maintained robust growth in the first two months,gkfx global foreign exchange dealer with foreign-funded enterprises particularly standing out.

According to the latest data from the National Bureau of Statistics, from January to February, the total profit of large-scale industrial enterprises in China reached 914.06 billion yuan, a year-on-year growth of 10.2%. Among them, foreign, Hong Kong, Macao, and Taiwan invested enterprises achieved a total profit of 216.92 billion yuan, increasing by 31.2%, becoming one of the main driving forces for profit growth.

Among enterprises of different ownership types, private enterprises realized a total profit of 246.54 billion yuan, leading the pace with a growth of 12.7%; joint-stock companies' profits totaled 689.85 billion yuan, growing by 5.3%; and state-controlled enterprises made a profit of 343.49 billion yuan, with a mere growth of 0.5% year-on-year.

Profit performance varied across industries:

The manufacturing sector emerged as the main engine for profit growth, realizing a total profit of 613.45 billion yuan, growing by 17.4%; Meanwhile, the mining sector's total profit decreased by 21.1%. Among various industries, the computer, communications, and other electronic equipment manufacturing industry saw the most significant profit increase, reaching 2.1 times.

In terms of financial performance, large-scale industrial companies saw their operating income increase by 4.5%, total assets increased by 6.5% year-on-year, and the asset-liability ratio declined to 57.1%. However, accounts receivable grew by 8.6% year-on-year, and finished goods inventory increased by 2.4%, which may exert certain pressure on business operations.

Moreover, the operating costs of large-scale industrial enterprises slightly rose, the cost per hundred yuan of operating income being 84.97 yuan. However, the per capita operating income increased, and the turnover days for finished goods inventory decreased, indicating an improvement in business efficiency.

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