新华社北京7月28日电（记者刘开雄、申铖）国家税务总局在28日国新办举行的"高质量完成'十四五'规 划"系列主题新闻发布会上披露，"十四五"期间，我国累计新增减税降费预计超过10万亿元。 "2021年至今年上半年，全国累计新增减税降费9.9万亿元，预计到今年底将达10.5万亿元，年均新增减 税降费超2万亿元。"国家税务总局副局长蔡自力说。 在国家税费优惠及其他政策的有力推动下，高质量发展取得了积极成效。 税收发票数据显示，2021年至2024年，制造业企业销售收入占全部企业的比重保持在29%左右。特别是 制造业"高端化、智能化"稳步推进，装备制造业、高技术制造业销售收入年均分别增长9.6%和10.4%。 研发费用加计扣除是促进科技创新的重要税收支持政策。"十四五"期间，我国研发费用加计扣除政策不 断优化、力度不断加大，其中2024年度企业享受研发费用加计扣除3.32万亿元、享受户数61.5万户，较 2021年度分别增长25.5%和16.7%。 "税务部门始终坚持落实税费优惠政策实打实，依托税收大数据精准开展'政策找人'，在政策直达快享 中增强了广大纳税人缴费人的获得感。"蔡自力说。（完） 蔡自力介绍，从政策导 ...

Group 1 - In June, the revenue of industrial enterprises above designated size increased by 1.0% year-on-year, with a total profit of 715.58 billion yuan [1] - From January to June, the cumulative revenue growth of industrial enterprises was 2.5%, indicating a favorable condition for profit recovery [1] - The equipment manufacturing industry showed significant growth, with revenue increasing by 7.0% year-on-year in June, accelerating by 0.3 percentage points compared to May [1] Group 2 - In the equipment manufacturing sector, four out of eight industries reported profit growth, with the automotive sector experiencing a remarkable profit increase of 96.8% due to promotional activities and investment returns [1] - High-end, intelligent, and green manufacturing sectors contributed to stable profit growth, with profits in electronic special materials manufacturing, aircraft manufacturing, and marine engineering equipment manufacturing increasing by 68.1%, 19.0%, and 17.8% respectively [1] - The policy of replacing old consumer goods with new ones has positively impacted industries such as smart drones, computer manufacturing, air conditioning, and ventilation equipment, with profit growth rates of 160.0%, 97.2%, 21.0%, and 9.7% respectively [2]

Group 1 - In June, the total profit of industrial enterprises above designated size reached 715.58 billion yuan, a year-on-year decrease of 4.3%, with the decline narrowing by 4.8 percentage points compared to May. The manufacturing sector showed significant improvement, with profits turning from a 4.1% decline in May to a 1.4% increase in June [1] - For the first six months, the operating income of industrial enterprises above designated size grew by 2.5%, while profits decreased by 1.8% [1] - The equipment manufacturing industry experienced rapid growth in both revenue and profit, with June revenue increasing by 7.0% year-on-year, accelerating by 0.3 percentage points from May. Profits shifted from a 2.9% decline in May to a 9.6% increase in June, contributing 3.8 percentage points to the overall profit growth of industrial enterprises [1] Group 2 - In June, industries related to high-end, intelligent, and green manufacturing saw rapid profit growth, providing stable support for high-quality industrial development. Profits in high-end equipment manufacturing sectors such as electronic special materials, aircraft manufacturing, and marine engineering equipment manufacturing increased by 68.1%, 19.0%, and 17.8% year-on-year, respectively [2] - The production of intelligent and automated products accelerated, leading to profit increases in related sectors, with profits in smart consumer equipment manufacturing and measuring instruments rising by 40.9% and 12.5%, respectively [2] - The formation of green production and lifestyle accelerated, positively impacting profits in sectors such as lithium-ion battery manufacturing, biomass energy generation, and environmental monitoring instruments, which saw profit increases of 72.8%, 24.5%, and 22.2%, respectively [2]

从其他指标来看，《保障中小企业款项支付条例》实施以来，工业企业整体回款效率得到提升。6月末 企业应收账款平均回收期为69.8天，较5月末有所缩短。 （文章来源：证券时报） 7月27日，国家统计局数据显示，6月份，规模以上工业企业利润同比下降4.3%，降幅较5月份明显收 窄。从累计看，1～6月份规模以上工业企业实现利润总额同比下降1.8%。分析认为，虽然工业企业盈 利能力仍偏弱，但下半年有望边际修复。 装备制造业对规模以上工业利润支撑作用突出。于卫宁介绍，装备制造业利润由5月份下降2.9%转为增 长9.6%，拉动全部规模以上工业利润增长3.8个百分点。 数据显示，6月份规模以上工业企业实现利润总额同比降幅较5月份收窄4.8个百分点；营业收入同比增 长1.0%，增速与5月份持平。国家统计局工业司统计师于卫宁表示，工业企业营收持续增长，为企业盈 利恢复创造有利条件。 6月份，制造业利润改善明显，由5月份下降4.1%转为增长1.4%。具有"三化"（高端化、智能化、绿色 化）特征的制造业行业表现亮眼。具体来看：高端装备制造行业中的电子专用材料制造、飞机制造、海 洋工程装备制造等行业利润同比分别增长68.1%、19.0% ...

Core Insights - Hainan's GDP for the first half of 2025 reached 370.185 billion yuan, showing a year-on-year growth of 4.2% [1] - The national GDP for the same period was 66,053.6 billion yuan, with a growth rate of 5.3% [2] - 20 provinces reported GDP growth rates exceeding the national average, with Tibet leading at 7.2% [2] - Economic performance across provinces indicates a trend of exceeding initial annual growth targets, driven by high-tech manufacturing and consumption policies [2][3] Economic Performance - Guangdong topped the GDP rankings with 68,725.4 billion yuan, followed by Jiangsu, both exceeding 60,000 billion yuan [3] - Six provinces reported GDP exceeding 30,000 billion yuan, indicating strong economic performance [3] - The central region, particularly provinces like Hubei and Sichuan, showed higher growth rates compared to eastern provinces, reflecting a shift in economic dynamics [4] Future Economic Strategies - There is an emphasis on boosting domestic demand through investment and consumption initiatives in the second half of the year [4][5] - Investment strategies will focus on infrastructure projects and public investment to stimulate economic growth [5] - Consumption policies will include measures like "old-for-new" programs to enhance consumer demand [5] - The need for regional economic coordination and the transfer of industries from eastern to central and western regions is highlighted [4][5]

Core Viewpoint - In June, China's industrial enterprises showed signs of profit recovery, particularly in new momentum industries like equipment manufacturing, signaling a positive trend in the real economy [1][2]. Group 1: Profit and Revenue Trends - In June, the total profit of large-scale industrial enterprises in China reached 715.58 billion yuan, a year-on-year decrease of 4.3%, but the decline narrowed significantly by 4.8 percentage points compared to May [1]. - The revenue of large-scale industrial enterprises grew by 1.0% year-on-year in June, maintaining the same growth rate as in May [1]. - For the first half of the year, revenue increased by 2.5% year-on-year, while profits decreased by 1.8%, indicating a widening decline compared to the first five months but a narrowing decline compared to the end of 2024 [1]. Group 2: Factors Influencing Profitability - The overall decline in profits for large-scale industrial enterprises has been attributed to external environmental shocks, ongoing elimination of outdated capacity, low Producer Price Index (PPI), and insufficient domestic demand [2]. - The average accounts receivable collection period for large-scale industrial enterprises was 69.8 days at the end of June, a decrease of 0.7 days from the end of May, indicating improved cash flow [2]. Group 3: Policy Impact and Sector Performance - The implementation of the "Regulations on Payment of Funds to Small and Medium-sized Enterprises" since June 1 has improved overall collection efficiency for industrial enterprises, particularly benefiting private enterprises [3]. - In June, the profit growth rate for large-scale manufacturing enterprises shifted from a decline of 4.1% in May to an increase of 1.4%, driven by policies supporting equipment manufacturing and high-tech industries [3]. - Profits in the equipment manufacturing sector increased by 9.6% year-on-year in June, contributing significantly to the overall profit growth of large-scale industrial enterprises [3]. Group 4: Industry Trends and Future Outlook - The manufacturing sector is advancing towards high-end, intelligent, and green production, with significant profit increases in high-end equipment manufacturing and green manufacturing sectors [4]. - The profit growth rates for specific industries, such as electronic materials and lithium-ion battery manufacturing, reached 68.1% and 72.8% respectively in June [4]. - Looking ahead, the recovery of industrial enterprise profits is expected to continue, supported by domestic demand expansion and regulatory policies aimed at stabilizing market competition [5].

Core Insights - The overall performance of large-scale industrial enterprises in China showed a slight increase in revenue but a decline in profits during the first half of 2023, indicating a mixed economic environment [2][3]. Revenue and Profit Performance - From January to June, large-scale industrial enterprises achieved operating income of 66.78 trillion yuan, a year-on-year increase of 2.5% [2]. - The total profit for the same period was 34.365 billion yuan, reflecting a year-on-year decrease of 1.8% when adjusted for comparable figures [2]. Monthly Trends - In June, the operating income of large-scale industrial enterprises continued to grow, with a year-on-year increase of 1% [6]. - Profit decline in June was recorded at 4.3%, which is a narrowing of the decline by 4.8 percentage points compared to May [5][6]. Sector Analysis - The equipment manufacturing sector showed significant growth, with operating income increasing by 7% in June and profits turning from a decline of 2.9% in May to a growth of 9.6% [7][8]. - The automotive industry experienced a remarkable profit increase of 96.8%, driven by promotional activities and investment returns [8]. Policy Impact - Government policies have played a crucial role in improving industry profits, with support for new categories and subsidies leading to notable profit improvements in related sectors [9]. - The expansion of domestic demand and anti-competitive measures are expected to further enhance profit recovery in the industrial sector [10]. Future Outlook - Analysts predict that the overall performance of industrial enterprises is likely to recover in the third quarter of 2023, supported by favorable policies and improved market conditions [12].

Profit Trends - In the first half of 2025, industrial enterprises achieved a total profit of CNY 34,365.0 billion, a year-on-year decline of 1.8% compared to a previous decline of 1.1%[1] - Operating revenue reached CNY 66.78 trillion, reflecting a year-on-year growth of 2.5%, slightly down from 2.7%[1] - In June, profits decreased by 4.3% year-on-year, an improvement from the previous decline of 9.1%[1] Production and Pricing - Industrial production accelerated, with June's industrial added value growing by 6.8% year-on-year, driven by strong export performance and domestic demand during the 618 shopping festival[1] - The Producer Price Index (PPI) fell by 3.6% year-on-year in June, continuing to exert pressure on profit recovery[1] - Profit margins for the first half of 2025 recorded 5.15%, a decrease of 0.26 percentage points year-on-year, despite a slight increase of 0.18 percentage points month-on-month[1] Inventory and Receivables - Finished goods inventory reached CNY 6.60 trillion, with a year-on-year growth of 3.1%, indicating a slowdown in nominal inventory growth[1] - The average accounts receivable collection period decreased to 69.8 days in June, the first drop below 70 days in 2025, although it still increased by 3.6 days year-on-year[1] Sector Performance - Equipment manufacturing profits grew by 9.6% in June, reversing a previous decline of 2.9% in May, contributing 3.8 percentage points to overall industrial profit growth[2] - The "two new" policies positively impacted profits in sectors like medical equipment and consumer goods, with significant profit increases of 160.0% for smart drones and 97.2% for computers[2] - However, downstream consumer goods manufacturing sectors such as furniture and textiles experienced negative profit growth[2]

Group 1 - In the first half of 2023, the total profit of industrial enterprises above designated size in China was 34,365.0 billion yuan, a year-on-year decrease of 1.8%, while operating revenue reached 667,800.0 billion yuan, an increase of 2.5% [1] - In June 2023, the operating revenue of industrial enterprises above designated size grew by 1.0% year-on-year, maintaining the same growth rate as May, while total profit was 7,155.8 billion yuan, a year-on-year decrease of 4.3%, with the decline narrowing by 4.8 percentage points compared to May [1] - The overall decline in industrial enterprise profits in the first half of 2023 was less severe than in 2024, indicating the effectiveness of a series of stable growth policies, particularly in the manufacturing sector, which saw profits shift from a decline of 4.1% in May to a growth of 1.4% [1] Group 2 - Within the manufacturing sector, the equipment manufacturing industry experienced rapid growth in both revenue and profit, contributing 3.8 percentage points to the overall profit growth of industrial enterprises above designated size [2] - In June 2023, the equipment manufacturing industry saw a year-on-year revenue increase of 7.0%, accelerating by 0.3 percentage points from May, and profits shifted from a decline of 2.9% in May to a growth of 9.6% [2] - The automotive industry, driven by promotional activities and increased investment returns from key enterprises, reported a remarkable profit growth of 96.8% [2] Group 3 - The implementation of the "two new" and "two heavy" policies has led to rapid profit growth in industries such as electronics, home appliances, and kitchenware [3] - In June 2023, specific sectors like medical instruments, printing and packaging machinery, and general components manufacturing saw significant profit increases, with smart drones and computer manufacturing experiencing profit growth of 160.0% and 97.2%, respectively [3] - Looking ahead to the third quarter, it is anticipated that the recovery of industrial enterprise profits will be supported by the progress in US-China trade negotiations and the introduction of domestic "anti-involution" policies, alongside a rebound in prices of commodities like coking coal and steel [3]

Group 1: Industrial Profit Trends - In the first half of 2025, the total profit of industrial enterprises reached CNY 34,365.0 billion, a year-on-year decrease of 1.8%[2] - The profit growth rate slowed down, with June showing a 4.3% year-on-year decline, narrowing the drop by 4.8 percentage points compared to May[2] - The revenue profit margin for industrial enterprises was 5.15%, which is 0.22 percentage points lower than the same period last year[2] Group 2: Price and Demand Dynamics - The Producer Price Index (PPI) for June 2025 decreased by 3.6% year-on-year and 0.4% month-on-month, significantly impacting profit growth[2] - Effective demand remains insufficient, and industrial product prices are low, which continues to drag on profit recovery[3] - The industrial capacity utilization rate in Q2 2025 was 74.0%, slightly down by 0.1 percentage points from Q1, indicating a low position that hinders cost reduction[2] Group 3: Policy Impact and Sector Performance - The "Two New" policies are showing continued support for profit recovery, particularly benefiting the equipment manufacturing sector[3] - In June, the equipment manufacturing sector's revenue grew by 7.0% year-on-year, with profits increasing by 9.6%, contributing 3.8 percentage points to overall industrial profit growth[4] - High-end equipment manufacturing sectors, such as electronic materials and aircraft manufacturing, saw profit increases of 68.1% and 19.0% respectively[4] Group 4: Inventory and Market Conditions - As of June 2025, the inventory of finished products for industrial enterprises increased by 3.1% year-on-year, reflecting a flattening inventory cycle[9] - The current inventory-to-sales ratio remains high, indicating a willingness among enterprises to reduce inventory despite ongoing pressures[9] - The MPI industrial inventory forward index suggests that the inventory cycle will continue to exhibit a flattening characteristic throughout 2025[9]