The National Bureau of Statistics recently released data: In the first quarter, industrial enterprises above designated size in China achieved a total profit of 1505.53 billion yuan, a year-on-year increase of 4.3%. From a quarterly perspective, the profits of industrial enterprises above designated size have increased for three consecutive quarters, continuing their recovery trend.
The revenue of industrial enterprises continues to recover. The market demand is gradually improving, and new driving forces are accelerating growth, driving the continued recovery of enterprise revenue. In the first quarter, the operating revenue of industrial enterprises above designated size increased by 2.3% year-on-year, with a growth rate 1.2 percentage points faster than the full year of the previous year. The revenue of the quarter continued to grow for three consecutive quarters, creating favorable conditions for the continuous recovery of enterprise profits.
Nearly 70% of industry profits have achieved growth. In the first quarter, out of 41 industrial sectors, 28 industries saw a year-on-year increase in profits, accounting for 68.3%, an increase of 2.4 percentage points from the previous year. By category, the profit of the manufacturing industry increased by 7.9% year-on-year; The profit of the electricity, heat, gas, and water production and supply industry increased by 40.0% year-on-year, maintaining a rapid growth trend.
High tech manufacturing leads the growth of industrial profits. In the first quarter, the profit of high-tech manufacturing increased by 29.1% year-on-year, with a growth rate 24.8 percentage points higher than the average level of large-scale industries. Looking at different industries, the profit of the communication terminal equipment industry increased by 3.47 times year-on-year; The profits of the integrated circuit, display components, and computer manufacturing industries increased by 10.83 billion yuan, 7.61 billion yuan, and 4.80 billion yuan respectively year-on-year.
The equipment manufacturing industry plays a "ballast stone" role in profit growth. In the first quarter, the profit of the equipment manufacturing industry increased by 18.0% year-on-year, driving a 4.9 percentage point increase in profits for industries above designated size, making it the industry sector with the largest contribution. Looking at different industries, the profits of the electronics and automotive industries increased by 82.5% and 32.0% year-on-year, respectively, making them the manufacturing industry that has driven the largest increase in profits in the above scale industry; The profits of the railway, ship, aviation and aerospace transportation equipment, general equipment, and metal products industries increased by 45.8%, 7.9%, and 6.7% year-on-year, respectively.
The profit of the consumer goods manufacturing industry has maintained rapid growth. With the deepening implementation of the policy of expanding domestic demand and promoting consumption, consumer demand continues to be released. In the first quarter, the profit of the consumer goods manufacturing industry increased by 10.9% year-on-year, and the quarter's profit maintained double-digit growth for three consecutive quarters, providing strong support for the recovery of profits in large-scale industries.