Mainland industrial enterprise profits increased by 15.2% in the first two months

The National Bureau of Statistics announced that in the first two months of this year, industrial enterprises above designated size achieved profits of 1.02 trillion yuan (RMB), a year-on-year increase of 15.2%.

During this period, profits of state-controlled industrial enterprises above designated size totaled 366.56 billion yuan, up 5.3% year-on-year; joint-stock enterprises earned 803.29 billion yuan, an increase of 22.1%; foreign and Hong Kong, Macao, and Taiwan-invested enterprises made 216.75 billion yuan, a decrease of 3.8%; private enterprises earned 284.45 billion yuan, up 37.2%.

In the first two months, industrial enterprises above designated size achieved operating revenue of 20.84 trillion yuan, a year-on-year increase of 5.3%. By the end of February, the total assets of these enterprises reached 188.40 trillion yuan, up 5.5% year-on-year; the asset-liability ratio was 57.6%, an increase of 0.1 percentage points compared to the same period last year.

Yu Weining, chief statistician of the Industrial Department of the National Bureau of Statistics, stated that in the first two months, various regions and departments accelerated the implementation of more proactive macro policies, focusing on leveraging the combined effects of stock and incremental policies. The profit growth of industrial enterprises above designated size accelerated, most industries saw profits rebound, and profits in equipment manufacturing and high-tech manufacturing grew rapidly. The overall performance of industrial enterprises showed a continued recovery trend.

Looking at the three major categories, in the first two months, manufacturing grew by 18.9%, accelerating by 13.9 percentage points compared to the full year last year; mining grew by 9.9%, after declining 26.2% last year; power, heat, gas, and water production and supply grew by 3.7%. Among 41 major industrial categories, 24 industries reported year-on-year profit growth, accounting for 58.5%; 26 industries saw profit growth accelerate or the decline narrow, turning from negative to positive, with more than 60% showing a rebound.

Yu Weining said that overall, profits of industrial enterprises above designated size are growing faster, but it is also important to recognize that the international environment is volatile, external risks—especially spillover risks from geopolitical conflicts—are increasing, and there are many unstable and uncertain factors. Meanwhile, during the domestic economic transformation period, the recovery of profits in various industries remains uneven. Moving forward, efforts should continue to expand domestic demand, optimize supply, develop new productive forces according to local conditions, deepen the construction of a unified national market, and promote the sustained and healthy development of the industrial economy.