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CN Profits of Industries Above Designated Scale Grows Just 0.7% YoY in May, vs Previous Value +4%
According to data released by the National Bureau of Statistics (NBS), in the first five months of this year, industries above designated scale across China realised a total profit...
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CN Profits of Industries Above Designated Scale Grows Just 0.7% YoY in May, vs Previous Value +4%
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According to data released by the National Bureau of Statistics (NBS), in the first five months of this year, industries above designated scale across China realised a total profit of RMB2.75 trillion, elevating 3.4% YoY on a comparable basis. In May alone, profits of industries above designated scale grew by 0.7% YoY, compared to a 4% YoY growth in April.

In the first five months of this year, among industries above designated scale, SOEs recorded a total profit of RMB943.84 billion, dropping 2.4% YoY. Joint-stock enterprises recorded a total profit of RMB2.05 trillion, rising 1%. Foreign, Hong Kong, Macao and Taiwan-funded enterprises recorded a total profit of RMB682.78 billion, hiking 12.6%. POEs recorded a total profit of RMB732.93 billion, lifting 7.6%.

In the first five months of this year, industries above designated scale achieved operating revenues of RMB53.03 trillion, growing 2.9% YoY. Operating costs were RMB45.27 trillion, rising 3%. Operating profit margin was 5.19%, a YoY increase of 0.02 ppts.

At the end of May, total assets of industries above designated scale amounted to RMB171.26 trillion, mounting 6% YoY. Total liabilities amounted to RMB98.44 trillion, escalating 5.7%. Gearing ratio stood at 57.5%, a YoY decrease of 0.1 ppts.

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