In June, profits in the manufacturing industry turned from a decline to an increase, with equipment manufacturing playing a prominent role in supporting this.

The National Bureau of Statistics released data on July 27 showing that in June, the operating income of industrial enterprises above designated size increased by 1% year-on-year, with the growth rate remaining the same as in May; the total profit reached 715.58 billion yuan, a year-on-year decrease of 4.3%, a decrease of 4.8 percentage points narrower than in May. The improvement in manufacturing profits was significant, with a turnaround from a 4.1% year-on-year decrease in May to a 1.4% increase, with the profit of equipment manufacturing industry increasing by 9.6% year-on-year, showing a prominent supporting role. According to experts interviewed, the continued efforts of the "two-new" policies, especially in the new energy industry, particularly in the equipment manufacturing industry, have made significant contributions to profit growth. The sustainability of the recovery in industrial enterprise profit growth still depends on the additional support of expanding demand policies and the reasonable rebound in industrial product prices. In the next stage, we should expand and strengthen the domestic circulation, and promote the improvement of corporate profitability.