National Bureau of Statistics: profits of industrial enterprises above designated size in China decreased by 1.1% from January to May.

On June 27, data from the National Bureau of Statistics showed that from January to May, the total profits of industrial enterprises above the designated size in China reached 2.72043 trillion yuan, a year-on-year decrease of 1.1% (calculated on a comparable basis). From January to May, among industrial enterprises above the designated size, the total profits of state-owned enterprises amounted to 870.95 billion yuan, a year-on-year decrease of 7.4%; the total profits of joint-stock enterprises reached 2.01707 trillion yuan, a decrease of 1.5%; the total profits of foreign-funded enterprises from Hong Kong, Macau, and Taiwan were 685.68 billion yuan, an increase of 0.3%; the total profits of private enterprises were 759.25 billion yuan, an increase of 3.4%. Yu Weining, a statistician from the Industrial Department of the National Bureau of Statistics, stated that multiple factors affected the decline in industrial enterprise profits. In the period from January to May, the total profits of industrial enterprises above the designated size in China reached 2.72043 trillion yuan, an increase of 603.41 billion yuan compared to the period from January to April. However, due to multiple factors such as insufficient effective demand, declining industrial product prices, and short-term fluctuations, the year-on-year decrease was 1.1%. In terms of profit composition, the higher base of short-term factors such as investment income from the same period last year led to a 1.7 percentage point deceleration in profit growth of industrial enterprises above the designated size from January to May. The effects of the "two new" policies continue to manifest. From January to May, various regions and relevant departments have intensified efforts to promote the implementation of the "two new" policies, effectively stimulating domestic demand vitality. Driven by policies related to large-scale equipment renewal, the profits of the general equipment and special equipment industries increased by 10.6% and 7.1% respectively, collectively driving the growth of profits of industrial enterprises above the designated size by 0.6 percentage points. The original text continues with detailed statistics and analysis of industrial profits in various sectors for the months of January to May, demonstrating the impact of policies, industry performance, and other factors on industrial profits.