Profits of Large Industrial Enterprises in China Increased by 4.0% in April

According to data from the National Bureau of Statistics,ifx foreign exchange official website the profit growth rate of industrial enterprises above a designated size in April turned positive year-on-year, injecting strong momentum into a full recovery. This positive news indicates that China's economy continues to improve, with multiple industries achieving robust growth.

As of April this year, the total profit of industrial enterprises above a designated size nationwide reached 2,094.69 billion yuan, an increase of 4.3% year-on-year. Compared with the negative growth of -3.5% in the same period last year, this marks a significant positive shift.

From the perspective of different types of enterprises, the total profit of state-owned holding enterprises was 739.64 billion yuan, showing a slight decline but maintaining relative stability; joint-stock enterprises achieved total profits of 1,550.81 billion yuan, an increase of 0.9%, indicating slow but continuous growth; foreign-invested enterprises, including those from Hong Kong, Macao, and Taiwan, achieved total profits of 528.59 billion yuan, an increase of 16.7%, becoming the main driver of growth; private enterprises also achieved total profits of 544.8 billion yuan, an increase of 6.4%.

Among different industries, the manufacturing sector was the main contributor to profit growth, achieving total profits of 1,443.98 billion yuan, an increase of 8.0%. In addition, the power, heat, gas, and water production and supply industries also achieved total profits of 258.32 billion yuan, an increase of 36.9%, making it another highlight.

In specific industries, the computer, communication, and other electronic equipment manufacturing industry saw an eye-catching profit growth rate of 75.8%; the non-ferrous metal smelting and rolling processing industry grew by 56.6%; the power and heat production and supply industry increased by 44.1%; the automotive manufacturing and textile industries grew by 29.0% and 24.9%, respectively, showing signs of active recovery. However, some industries faced declines, with the coal mining and washing industry falling by 34.2% and the non-metallic mineral products industry decreasing by 53.9%.

Regarding assets and liabilities, by the end of April, industrial enterprises above a designated size had total assets of 170.24 trillion yuan, an increase of 6.0% year-on-year, total liabilities of 97.61 trillion yuan, an increase of 5.7%, and total owners' equity of 72.62 trillion yuan, an increase of 6.4%. This data indicates a relatively stable asset-liability structure.

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