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15 July 2015

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Hunan Large-scale Industry Improves Efficiency

2020-06-03 Download Print Comment
Hunan industry has secured its position in difficult times and its efficiency has improved significantly. The Hunan Provincial Bureau of Statistics announced the latest data on June 2, 2020. Between January and April, Hunan’s large-scale industry achieved operating revenue of 976.399 billion CNY, a year-on-year decrease of 3.9% and narrowed by 4.1 percentage points from the first quarter. The profit was 51.297 billion CNY, a year-on-year decrease of 7.4% and narrowed by 11.1 percentage points from the first quarter.

“The two major industrial economic key indicators are improving, indicating that Hunan economic order is being further restored, and the comprehensive policies concerning epidemic prevention and control and economic and social development have been gradually implemented,” said the person in charge of the Industrial Division of the Hunan Provincial Bureau of Statistics. Among the large-scale industries in Hunan, the number of industries with profit growth is constantly increasing. In the first four months, 15 major industries gained profit, 8 more than the first quarter; and the industrial growth rate increased from 17.9% to 38.5%. The profit growth of computer communication and other electronic equipment manufacturing, and special equipment manufacturing grew by 120% and 20.9% respectively, becoming the main force to improve the industrial efficiency.

What is particularly gratifying is that the economic benefits of non-public ownership have continued to improve. The total profit achieved from January to April was nearly 40 billion CNY, a decrease of 1.2% year on year. This was narrower than the first quarter and the first two months by 27.4 and 15.6 percentage points respectively. The profits of foreign companies, Hong Kong, Macao, and Taiwan-invested enterprises increased by 27.6% year on year.

With the gradual recovery of industrial production and sales, the pressure on Hunan large-scale industrial finished goods inventory has also eased. By the end of April, the enterprise inventories of finished products reduced 1.334 billion CNY compared with the end of March, and the inventory turnover days of finished products shortened 1.1 days from the end of March.

This article is from Hunan Provincial Government

Translator: Yu Jiangjiang

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