The latest figures from China’s National Bureau of Statistics indicate that industrial enterprises posted robust growth for the first three months of 2018.
NBS data indicates that China’s industrial enterprises above designated size posted year-on-year profit growth of 11.6% for the first quarter, maintaining double-digit momentum.
Strategy emerging industries saw profit growth of 10.7% for the first quarter.
The main operation margin of industrial enterprises above designated size was 6.18% in the first quarter, for a gain of 0.11 percentage points compared to the same period last year.
Manufacturing accounted for 83.9% of all profits of Chinese industrial enterprises above designated size in the first quarter, for a rise of 0.3 percentage points compared to the January-February period, while resource extraction accounted for 8.9%, for a decline of 0.2 percentage points.
Enterprise costs and leverage are also declining. During the first quarter the cost for every 100 yuan of main business revenue for industrial enterprises above designated size was 92.61 yuan, for a year-on-year decline of 0.13 yuan.
According to the Chinese government’s official website the “profit structure is optimising, enterprise efficiency continues to improve, and conditions of improvement amidst stability for the industrial economy remain unchanged.”