Perspectives
- Major Chinese industrial companies generated 123.48 trillion yuan (~$17.18 trillion) in operational revenue between January and November, which was up 1.8% year over year.
- However, earnings dropped 4.7% to 6.66 trillion yuan (~$932.4 billion). November’s income increased 0.5% year over year due to policy changes.
- Profits from high-end manufacturing increased, while wearable smart gadgets showed a 90.3% increase.
According to the National Bureau of Statistics (NBS), the operational revenue of China’s main industrial firms increased 1.8% year over year to 123.48 trillion yuan (~$17.18 trillion) between January and November. Major industrial companies reported a total profit of 6.66 trillion yuan (~$932.4 billion) in the first 11 months, a 4.7% year-over-year decline.
The execution of governmental programs propelled the recovery of significant Chinese industrial businesses in November. According to a state-owned Chinese media site that cited NBS, operational revenue increased by 0.5% year over year in November after declining by 0.2% in October.
Furthermore, the high-end, intelligent, and green manufacturing sectors showed notable profit increases in November. The manufacture of aircraft equipment and optoelectronic devices had year-over-year increases in profits of 14.3% and 41.1%, respectively. Both the lithium-ion battery business and the wearable smart device industry saw increases in earnings of 90.3% and 90.3%, respectively.
According to Yu Weining, a statistician at NBS, the improvement in the implementation of current policies and other measures led to a steady increase in industrial production in November.
Weining underlined the necessity of concentrating on the efficient execution of policies, boosting the pace of growth, and assisting the industrial economy’s steady recovery in the next stage.