Industrial profit in the first 10 months decreased by 2.9% yeat on year

From January to October, industrial profits fell by 2.9%. Zhu Hong, Senior Statistician of the industrial department of the National Bureau of statistics, interpreted the profit data of industrial enterprises the financial data of industrial enterprises released by the National Bureau of statistics on November 27, which showed that from January to October 2019, the total profit of Industrial Enterprises above designated size decreased by 2.9% year on year.

From January to October, the benefits of industrial enterprises show the following characteristics: first, the profit growth of high-tech manufacturing industry, strategic emerging industry and equipment manufacturing industry is accelerated. From January to October, the profits of high-tech manufacturing industry, strategic emerging industry and equipment manufacturing industry increased by 7.5%, 5.3% and 2.0% respectively year on year, and the growth rate was 1.2, 0.7 and 1.1 percentage points higher than that of January to September. Among them, although the profit of automobile manufacturing industry decreased by 14.7% year-on-year, the decrease rate was 1.9% lower than that from January to September; the profit of computer communication and other electronic equipment manufacturing industry increased by 6.0% year-on-year, and the growth rate was 2.4% faster than that from January to September. The second is that the profits of private enterprises and small-sized enterprises have kept stable growth. From January to October, the profits of private enterprises and small enterprises increased by 5.3% and 8.8% respectively year on year, roughly the same as that from January to September. Third, the profit decline of enterprises invested by foreign investors, Hong Kong, Macao and Taiwan continued to narrow.

From January to October, the profit of foreign and Hong Kong, Macao and Taiwan invested enterprises decreased by 4.0% year-on-year, 0.2% lower than that from January to September, which has been in a downward trend for four consecutive months. The fourth is the decrease of asset liability ratio. At the end of October, the asset liability ratio of Industrial Enterprises above designated size was 56.8%, a year-on-year decrease of 0.5 percentage points. Among them, the asset liability ratio of state-owned holding enterprises was 58.3%, down 0.7 percentage points. The fifth is that the turnover of finished goods inventory has been accelerated. At the end of October, the turnover days of finished goods inventory of Industrial Enterprises above designated size were 17.3 days, a year-on-year decrease of 0.2 days. In October, the profit of industrial enterprises decreased by 9.9% year-on-year, and the decrease was larger than that in September, which was mainly affected by the expansion of the drop in the factory price of industrial products and the slowdown in the growth of production and sales.