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[Industry Focus]：National Bureau of Statistics released: January-May 2023 chemical raw materials and chemical products manufacturing fell by 52.4

Read： 478 Time：18months ago Source：国家统计局

On June 28, the National Bureau of Statistics released a monthly report on industrial economic benefits. The report shows that in May, as industrial production continued to recover, the profits of industrial enterprises above designated size across the country fell by 12.6 year-on-year, and the rate of decline narrowed by 5.6 percentage points from April. It narrowed for three consecutive months, and corporate profits showed a steady recovery trend.

From January to May, the total profits of industrial enterprises above the national scale reached about 2.67 trillion billion yuan, down 18.8 percent from the same period last year, 1.8 percentage points lower than that in January-April.

From January to May, among the 41 major industrial industries, the total profits of 14 industries increased year-on-year, 1 industry remained flat, 24 industries declined, and 2 industries turned from profit to loss. Of this total, oil and gas extraction fell by 9.9 per cent, coal mining and washing by 18.7 per cent, chemical raw materials and chemical products manufacturing by 52.4 per cent and oil, coal and other fuel processing by 92.8 per cent.

From January to May, industrial enterprises above designated size achieved operating income of 51.39 trillion billion yuan, a year-on-year increase of 0.1 percent; operating costs incurred were 43.83 trillion billion yuan, an increase of 1.2 percent; operating income profit margin was 5.19 percent, a year-on-year decrease of 1.21 percentage points.

When interpreting the profit data of industrial enterprises, Sun Xiao, a statistician at the Department of Industry of the National Bureau of Statistics, said that overall, the profits of industrial enterprises continue to recover, but it should also be noted that the external environment has become more complex and severe, and domestic demand is still insufficient, which restricts the further recovery of corporate profits. The foundation for the recovery of industrial enterprise benefits is still not solid. In the next stage, we should implement various policies and measures to promote the sustained recovery of the economy, focus on expanding effective demand, improve the level of production and marketing convergence, deeply implement the innovation driven development strategy, constantly enhance the development momentum, and promote the sustained consolidation and recovery of the industrial economy.

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