National Bureau of Statistics: Profits of large-scale industrial enterprises increased rapidly in the first nine months.

On October 27, Yu Weining, Chief Statistician of the Industry Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data from January to September 2025. Industrial enterprise profits are recovering at a faster pace. From January to September, the profits of industrial enterprises above a certain scale increased by 3.2% year-on-year, reaching the highest cumulative growth rate for each month since August of last year; an increase of 2.3 percentage points compared to January to August, showing a faster recovery trend. Industrial enterprise revenue growth is also accelerating. From January to September, the revenue of industrial enterprises above a certain scale increased by 2.4% year-on-year, an increase of 0.1 percentage points compared to January to August. The original text continues: Profits of industrial enterprises above a certain scale are recovering at a faster pace from January to September - Yu Weining, Chief Statistician of the Industry Department of the National Bureau of Statistics, interprets the industrial enterprise profit data from January to September 2025 In January to September, various regions and departments earnestly implemented more proactive macro policies, nurtured and expanded new economic growth points, and saw rapid growth in high-tech manufacturing, equipment manufacturing, and other new productive forces. Combined with the impact of a low base effect, the profit growth rate of industrial enterprises above a certain scale continued to rise. Industrial enterprise profits are recovering at a faster pace. From January to September, the profits of industrial enterprises above a certain scale increased by 3.2% year-on-year, the highest cumulative growth rate for each month since August of last year; an increase of 2.3 percentage points compared to January to August, showing a faster recovery trend. Looking at the three major categories, in January to September, manufacturing industry grew by 9.9%, an increase of 2.5 percentage points from January to August; electricity, heat, gas, and water production and supply industry grew by 10.3%, an increase of 0.9 percentage points from January to August; mining industry decreased by 29.3%, narrowing the decline by 1.3 percentage points. In September, the profits of industrial enterprises above a certain scale increased by 21.6% year-on-year, an increase of 1.2 percentage points from August. Revenue growth of industrial enterprises is accelerating. From January to September, the revenue of industrial enterprises above a certain scale increased by 2.4% year-on-year, an increase of 0.1 percentage points compared to January to August. In September, operating income increased by 2.7% compared to August, an increase of 0.8 percentage points, with revenue growth accelerating for the second consecutive month, creating favorable conditions for continued profit recovery for enterprises. More than half of the industries saw profit growth, and the growth rate of six-tenths of the industries is on the rise. In January to September, out of 41 industries in industrial large categories, 23 industries saw year-on-year profit growth, with more than half of the industries experiencing growth; in September, 30 industries saw profit growth, with a growth rate of 73.2%. In terms of the recovery trend, in January to September, 26 industries saw an increase in profit growth compared to January to August, with more than six-tenths experiencing an increase or narrowing of decline. The role of high-tech manufacturing is evident. From January to September, the profits of high-tech manufacturing enterprises above a certain scale increased by 8.7% year-on-year, an increase of 2.7 percentage points from January to August, contributing 1.6 percentage points to the overall profit growth of all industrial enterprises above a certain scale. In September, the profits of high-tech manufacturing industries grew at a double-digit rate, reaching 26.8%, contributing 6.1 percentage points to the overall profit growth of all industrial enterprises above a certain scale, becoming an important driving force for the high-quality development of industrial enterprises. By industry, in January to September, driven by the rapid development of the aerospace industry, profits in the aerospace and equipment manufacturing industry increased by 11.3%; innovation in the field of intelligence and automation continued to drive growth in industries such as intelligent consumer electronics manufacturing, electronic device manufacturing, and specialized electronic equipment manufacturing, with profits increasing by 81.6%, 39.7%, and 25.5% respectively; the high-quality development of precision instrument manufacturing is evident, with profits in industries such as optical instrument manufacturing and specialized instrument and meter manufacturing increasing by 45.2% and 17.5%, respectively. Equipment manufacturing provides strong support, with some industries seeing faster growth. From January to September, profits of equipment manufacturing enterprises above a certain scale increased by 9.4% year-on-year, 6.2 percentage points higher than the average level of all industrial enterprises above a certain scale, contributing 3.4 percentage points to the overall profit growth of all industrial enterprises above a certain scale. In September, profits of equipment manufacturing industries increased by 25.6%, contributing 10.5 percentage points to the overall profit growth of all industrial enterprises above a certain scale. By industry, in January to September, profits in all eight industries of equipment manufacturing saw growth, with profits in industries such as railway, ship, aerospace, electronics, and electrical machinery increasing by 37.3%, 12.0%, and 11.3% respectively. Profits of enterprises of different scales have improved, with profits of private and foreign-funded enterprises accelerating significantly. From January to September, profits of large, medium, and small industrial enterprises above a certain scale increased by 2.5%, 5.3%, and 2.7% year-on-year, respectively, increases of 2.6, 2.6, and 1.2 percentage points compared to January to August. By type of enterprise, profits of private enterprises, foreign-funded enterprises, and enterprises invested by Hong Kong, Macao, and Taiwan increased by 5.1%, 4.9%, with increases of 1.8 and 4.0 percentage points respectively than January to August; profits of joint-stock enterprises increased by 2.8%, an increase of 1.7 percentage points; profits of state-owned enterprises decreased by 1.4 percentage points. Revenue profit margin is on the rise. From January to September, the operating income profit margin of industrial enterprises above a certain scale was 5.26%, an increase of 0.04 percentage points year-on-year; in September, the operating income profit margin of industrial enterprises above a certain scale was 5.49%, an increase of 0.85 percentage points year-on-year, marking the second consecutive month of increase. In the next stage, given the complex and evolving external environment and the continued pressure on economic development, it is important to conscientiously implement the decision-making arrangements of the Central Committee and the State Council, continue to expand domestic demand, strengthen the domestic cycle, promote both domestic and international circulation, further stimulate market vitality, boost development expectations, and promote the steady and healthy development of the industrial economy. This article is an excerpt from the National Bureau of Statistics, edited by GMTEight: Chen Wenfang.