Beijing, August 27: According to data released by the National Bureau of Statistics of China, the operating revenue of large-scale industrial enterprises increased by 6.5% from January to July this year, amidst a steady rise in industrial product prices. Consequently, profits for these enterprises surged by 17.6%.
In the three major sectors, profits in the mining and manufacturing industries rose by 34.9% and 18.8%, respectively. However, the electricity, heat, gas, and water production and supply sector reported a decline in profits by 5.8%. In July, profits for large-scale industrial enterprises increased by 11.2% compared to the same period last year.
On the other hand, the electronics industry in China experienced a significant profit boost. Driven by the expansion of ‘AI+’ and growing demand for computing power, profits in electronics related to AI production and applications increased by 1.1 times. This contributed 9.3 percentage points to the total profits of all large-scale industrial enterprises. Additionally, the integrated circuit industry, which includes computing chips and memory chips, saw profits soar by 18.5 times, contributing over 80% to the total profits in the electronics sector.
Moreover, China’s high-tech manufacturing sector also played a crucial role in this growth, with profits increasing by 50.1%. The raw materials manufacturing sector saw an impressive profit rise of 55.2%. From January to July, the profit margin for large-scale industrial enterprises stood at 5.66%, marking the highest for this period since 2023.
(Source: China Media Group, Beijing)
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