Group 1: Manufacturing PMI Insights - In August, the Manufacturing PMI rose to 49.4%, indicating an improvement in economic conditions compared to the previous month [2] - The production index reached 50.8%, up by 0.3 percentage points, marking four consecutive months above the critical point, suggesting accelerated manufacturing production [2] - The new orders index increased to 49.5%, reflecting a slight rise in demand [2] - Large enterprises showed a PMI of 50.8%, up by 0.5 percentage points, indicating sustained expansion, while medium and small enterprises experienced declines [3] - High-tech manufacturing and equipment manufacturing PMIs were 51.9% and 50.5%, respectively, indicating strong performance in these sectors [3] Group 2: Non-Manufacturing PMI Insights - The Non-Manufacturing Business Activity Index was 50.3%, up by 0.2 percentage points, continuing its expansion [4] - The service sector's business activity index reached 50.5%, the highest point of the year, with significant growth in capital market services and transportation sectors [4] - The construction sector's business activity index fell to 49.1%, down by 1.5 percentage points, due to adverse weather conditions [4] Group 3: Comprehensive PMI Insights - The Comprehensive PMI Output Index stood at 50.5%, up by 0.3 percentage points, indicating overall expansion in production and business activities [5] - The manufacturing production index and non-manufacturing business activity index were 50.8% and 50.3%, respectively, contributing to the comprehensive index's growth [5]

国家统计局数据显示，8月份，制造业采购经理指数（PMI）为49.4%，比上月上升0.1个百分点，制造 业景气水平有所改善。 （文章来源：国家统计局） ...

Group 1: Manufacturing PMI Overview - In August, the Manufacturing Purchasing Managers' Index (PMI) was 49.4%, an increase of 0.1 percentage points from the previous month, indicating a slight improvement in manufacturing sentiment [1] - The PMI for large enterprises was 50.8%, up 0.5 percentage points, while medium-sized enterprises saw a PMI of 48.9%, down 0.6 percentage points, and small enterprises had a PMI of 46.6%, up 0.2 percentage points [4] - The production index was 50.8%, an increase of 0.3 percentage points, suggesting accelerated production expansion in the manufacturing sector [4] Group 2: New Orders and Inventory - The new orders index was 49.5%, up 0.1 percentage points, indicating a slight improvement in market demand within the manufacturing sector [5] - The raw materials inventory index was 48.0%, an increase of 0.3 percentage points, still below the critical point, suggesting a narrowing decline in major raw material inventory levels [6] - The employment index was 47.9%, down 0.1 percentage points, indicating a slight decline in employment sentiment among manufacturing enterprises [7] Group 3: Supplier Delivery and Non-Manufacturing PMI - The supplier delivery time index was 50.5%, up 0.2 percentage points, indicating that the delivery times from raw material suppliers are continuing to improve [8] - In August, the non-manufacturing business activity index was 50.3%, an increase of 0.2 percentage points, indicating continued expansion in the non-manufacturing sector [12] - The construction industry business activity index was 49.1%, down 1.5 percentage points, while the services industry index was 50.5%, up 0.5 percentage points [15] Group 4: Employment and Price Indices in Non-Manufacturing - The new orders index for non-manufacturing was 46.6%, up 0.9 percentage points, indicating improved market demand [19] - The input price index was 50.3%, unchanged from the previous month, indicating that input prices for non-manufacturing enterprises continue to rise [19] - The sales price index was 48.6%, up 0.7 percentage points, indicating a narrowing decline in overall sales prices in the non-manufacturing sector [19] Group 5: Comprehensive PMI Output Index - The comprehensive PMI output index for August was 50.5%, an increase of 0.3 percentage points, indicating an overall acceleration in production and business activities across industries [25]

Group 1 - The total operating revenue of large-scale industrial enterprises in China reached 78.07 trillion yuan from January to July 2025, representing a year-on-year increase of 2.3% [1] - The mining industry generated revenue of 2.94384 trillion yuan, showing a year-on-year decline of 13.6% [1] - The manufacturing sector achieved revenue of 67.84316 trillion yuan, with a year-on-year growth of 3.3% [1] Group 2 - The total profit of large-scale industrial enterprises amounted to 40.2035 trillion yuan, reflecting a year-on-year decrease of 1.7% [1] - The mining industry reported a total profit of 493.09 billion yuan, down 31.6% year-on-year [1] - The manufacturing sector's profit totaled 30.2358 trillion yuan, marking a growth of 4.8% [1] Group 3 - The coal mining and washing industry recorded a profit of 166.62 billion yuan, a significant decline of 55.2% year-on-year [2] - The oil and gas extraction industry achieved a profit of 208.7 billion yuan, down 12.6% year-on-year [2] - The non-metallic mining sector's profit increased by 1.6% to 194.2 billion yuan [2] Group 4 - The operating costs for large-scale industrial enterprises reached 66.80 trillion yuan, an increase of 2.5% [2] - The mining industry's operating costs were 20.3055 trillion yuan, down 9.1% year-on-year [2] - The operating costs for the coal mining and washing industry were 1.04865 trillion yuan, reflecting a decline of 14.5% [2]

为动态监测我国经济发展新动能变动情况，国家统计局统计科学研究所基于《新产业新业态新商业模式 统计监测制度》，采用定基指数方法测算了2024年经济发展新动能情况指数。结果显示，2024年我国经 济发展新动能指数（以2022年为100）为136.0，比上年增长14.2%。2024年，各项分类指数与上年相比均 有提升，其中，网络经济和创新驱动对总指数增长的贡献较大。 一、网络经济指数。2024年，网络经济指数为142.4，比上年增长16.2%，对总指数增长的贡献率为 35.2%。 二、创新驱动指数。2024年，创新驱动指数为138.5，比上年增长13.2%，对总指数增长的贡献率为 28.5%。 三、经济活力指数。2024年，经济活力指数为130.9，比上年增长14.5%，对总指数增长的贡献率为 19.6%。 一、经济发展新动能指数统计指标体系 表1 经济发展新动能指数统计指标体系及权重 | 分类指数 | 权重 | 序号 | 指标 | | --- | --- | --- | --- | | 经济活力指数 | 0.2 | 1 | 新设经营主体数量 | | | | 2 | 高新技术企业数 | | | | 3 | 快递业务 ...

Core Insights - From January to July, the total profit of industrial enterprises above designated size in China reached 40,203.5 billion yuan, a year-on-year decrease of 1.7% [1] - Among these enterprises, state-controlled enterprises reported a profit of 12,823.4 billion yuan, down 7.5% year-on-year; joint-stock enterprises achieved a profit of 29,742.5 billion yuan, down 2.8%; foreign and Hong Kong, Macao, and Taiwan-invested enterprises saw a profit of 10,216.7 billion yuan, an increase of 1.8%; private enterprises reported a profit of 11,183.7 billion yuan, also up 1.8% [1] - The mining industry experienced a profit of 4,930.9 billion yuan, a significant decline of 31.6%; the manufacturing sector achieved a profit of 30,235.8 billion yuan, an increase of 4.8%; and the electricity, heat, gas, and water production and supply industry reported a profit of 5,036.8 billion yuan, up 3.9% [1] Industry Performance - In the first seven months, the profit situation of major industries is as follows: the agricultural and sideline food processing industry saw a profit increase of 14.5%; electrical machinery and equipment manufacturing grew by 11.7%; non-ferrous metal smelting and rolling processing increased by 6.9%; computer, communication, and other electronic equipment manufacturing rose by 6.7%; general equipment manufacturing grew by 6.4%; electricity and heat production and supply increased by 6.3%; specialized equipment manufacturing rose by 3.2%; automotive manufacturing grew by 0.9% [2] - Conversely, the non-metallic mineral products industry declined by 5.6%; the textile industry decreased by 6.5%; the chemical raw materials and chemical products manufacturing industry fell by 8.0%; the oil and natural gas extraction industry dropped by 12.6%; and the coal mining and washing industry saw a dramatic decline of 55.2% [2] - The black metal smelting and rolling processing industry reported a total profit of 643.6 billion yuan, a staggering year-on-year increase of 5,175.4% [2] - For the first six months, the profit of the black metal smelting and rolling processing industry was 462.8 billion yuan, reflecting a year-on-year increase of 13.7 times, the highest growth rate among all 31 industrial categories [2][3]

Core Insights - From January to July, the total profit of industrial enterprises above designated size in China reached 40,203.5 billion yuan, a year-on-year decrease of 1.7% [1] - State-owned enterprises reported a total profit of 12,823.4 billion yuan, down 7.5% year-on-year, while private enterprises saw a profit of 11,183.7 billion yuan, an increase of 1.8% [1] - The mining industry experienced a significant profit decline of 31.6%, while the manufacturing sector achieved a profit growth of 4.8% [1] Industry Performance - The agricultural and sideline food processing industry saw a profit increase of 14.5%, while the electrical machinery and equipment manufacturing industry grew by 11.7% [2] - The coal mining and washing industry faced a dramatic profit drop of 55.2%, with total profits amounting to 1,666.2 billion yuan [2] - The chemical raw materials and chemical products manufacturing industry reported a profit decline of 8.0% [2]

Core Insights - The industrial sector in China is showing signs of recovery, with July's data indicating a stabilization in production and a gradual improvement in profit levels for large-scale industrial enterprises [1][2]. Group 1: Industrial Performance - In July, the revenue of large-scale industrial enterprises increased by 0.9% year-on-year, while the profit decline narrowed to 1.5%, a reduction of 2.8 percentage points from June [1]. - The gross profit margin improved, with July's gross profit shifting from a 1.3% decline in June to a 0.1% increase [1]. Group 2: Manufacturing Sector - The manufacturing sector experienced a significant profit increase of 6.8% year-on-year in July, accelerating by 5.4 percentage points compared to June [2]. - The raw material manufacturing sector saw a remarkable turnaround, with profits rising by 36.9% in July, particularly in the steel and petroleum processing industries, which reported profits of 18.09 billion and 3.46 billion respectively [2]. Group 3: High-Tech Manufacturing - High-tech manufacturing profits surged by 18.9% in July, contributing to the overall profit growth of large-scale industrial enterprises [2]. - Notable growth was observed in the aerospace sector, with profits increasing by 40.9%, and in the semiconductor industry, where profits for integrated circuit manufacturing and related sectors grew by 176.1% and 104.5% respectively [2]. Group 4: Policy Impact - The "Two New" policies have shown significant effectiveness, leading to rapid profit growth in various sectors, including specialized equipment manufacturing and consumer electronics [3]. - The implementation of policies promoting equipment upgrades has resulted in profit increases of 87.9% in electronic and electrical machinery manufacturing [3]. Group 5: Small and Medium Enterprises - Profits for medium and small enterprises improved in July, with medium-sized enterprises seeing a profit increase of 1.8% and small enterprises a 0.5% increase, reversing previous declines [3]. - Private enterprises reported a profit growth of 2.6%, surpassing the average growth rate of large-scale industrial enterprises by 4.1 percentage points [3]. Group 6: Future Outlook - The industrial sector faces challenges such as external uncertainties and insufficient domestic demand, necessitating a focus on policy stability and innovation to drive sustainable economic development [4].

制造业利润较快增长，对规上工业利润恢复贡献较大。7月份，制造业利润同比增长6.8%，增速较6月 份加快5.4个百分点，拉动全部规模以上工业企业利润增速较6月份加快3.6个百分点。从各板块看，原材 料制造业利润由6月份下降5.0%转为增长36.9%，其中钢铁、石油加工行业同比扭亏为盈，当月分别实 现利润总额180.9亿元、34.6亿元；消费品制造业下降4.7%，降幅较6月份收窄3.0个百分点。 高技术制造业利润快速增长，引领作用明显。7月份，高技术制造业利润由6月份下降0.9%转为增长 18.9%，拉动全部规模以上工业企业利润增速较6月份加快2.9个百分点，引领作用明显。其中，随着我 国航空航天事业发展，技术水平不断向更高层次迈进，航空航天器及设备制造行业利润增长40.9%；在 半导体领域自主创新能力持续增强的背景下，相关的集成电路制造、半导体器件专用设备制造、半导体 分立器件制造等行业利润分别增长176.1%、104.5%、27.1%；生物医药行业高质量发展稳步推进，推动 生物药品制造、化学药品制剂制造等行业利润分别增长36.3%、6.9%。 "两新"政策成效显著，持续带动行业利润增长。"两新"政策实施以来成 ...

Core Insights - From January to July, the total profit of industrial enterprises above designated size in China reached 40,203.5 billion yuan, a year-on-year decrease of 1.7% [1] Industry Performance - State-owned enterprises reported a total profit of 12,823.4 billion yuan, down 7.5% year-on-year - Joint-stock enterprises achieved a profit of 29,742.5 billion yuan, a decline of 2.8% - Foreign and Hong Kong, Macao, and Taiwan-invested enterprises saw profits of 10,216.7 billion yuan, an increase of 1.8% - Private enterprises reported profits of 11,183.7 billion yuan, also up by 1.8% [1] Sector Analysis - The mining industry experienced a profit of 4,930.9 billion yuan, down 31.6% - The manufacturing sector achieved a profit of 30,235.8 billion yuan, an increase of 4.8% - The electricity, heat, gas, and water production and supply industry reported a profit of 5,036.8 billion yuan, up 3.9% [1] Detailed Industry Profit Changes - Agricultural and sideline food processing industry profits increased by 14.5% - Electrical machinery and equipment manufacturing profits grew by 11.7% - Non-metallic mineral products industry profits decreased by 5.6% - Textile industry profits fell by 6.5% - Chemical raw materials and chemical products manufacturing profits declined by 8.0% - Coal mining and washing industry profits dropped significantly by 55.2% [2][3] Revenue and Cost Overview - Total operating revenue for the industrial sector was 780,703.3 billion yuan, a year-on-year increase of 2.3% - Total operating costs were 668,042.1 billion yuan, up 2.5% - The profit margin for the coal mining and washing industry was 1,666.2 billion yuan, down 25.2% [5]