Chinese Industrial Profits Rise 6.0% YoY in May

China’s large-scale industrial enterprises have just posted their first year-on-year (YoY) profit rise following the economic impacts of the COVID-19 pandemic.

In the month of May industrial enterprises above designated size in China realised total profits of 582.34 billion yuan, for a YoY rise of 6.0%, as compared to a decline of 4.3% in April.

For the period from January to May industrial enterprises above designated size in China achieved total profits of 1.84349 trillion yuan, for a YoY drop of 19.3%, and a deceleration of 8.1 percentage points compared to the period from January to April.

“En­ter­prises above des­ig­nated size” (规模以上企业) is a sta­tis­ti­cal term used in the Peo­ple’s Re­pub­lic of China to re­fer to in­dus­trial en­ter­prises with an­nual main busi­ness rev­enue of 20 mil­lion yuan or more.

As of the end of April the total assets of industrial enterprises above designated size was 118.94 trillion yuan, for a YoY rise of 6.4%, while total liabilities were 67.72 trillion yuan, for a YoY rise of 6.6%.

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