Core Insights - In the first quarter of 2025, industrial enterprises in China experienced a turnaround in profits, with a 0.8% year-on-year increase compared to a 3.3% decline in the previous year, marking a significant recovery from the continuous profit decline since the third quarter of the previous year [1] - The revenue of industrial enterprises also improved, with a 3.4% year-on-year increase in the first quarter, accelerating by 0.6 percentage points compared to the first two months of the year [1] Group 1: Profit Growth and Industry Performance - Nearly 60% of industries saw profit growth in the first quarter, with 24 out of 41 major industrial categories reporting year-on-year profit increases, and 58.5% of industries either improving or narrowing their profit decline [2] - The manufacturing sector showed notable improvement, with a profit growth of 7.6% in the first quarter, accelerating by 2.8 percentage points [2] - The equipment manufacturing sector was a key driver of profit growth, with a 6.4% year-on-year increase in profits, accounting for 32.0% of total profits among large industrial enterprises [2] Group 2: High-Tech Manufacturing and Policy Impact - High-tech manufacturing led the way in high-quality development, with profits turning from a 5.8% decline in the first two months to a 3.5% increase in the first quarter, outpacing the overall industrial average by 2.7 percentage points [3] - The aerospace industry saw a profit increase of 23.9%, while sectors like smart consumer devices and medical equipment also reported significant profit growth [3] - The "Two New" policies had a pronounced effect on industry profits, with specialized and general equipment sectors seeing profit increases of 14.2% and 9.5%, respectively, significantly above the overall industrial average [4]
国家统计局工业司统计师于卫宁解读2025年1—3月份工业企业利润数据
Guo Jia Tong Ji Ju·2025-04-27 01:40