According to the Hunan Provincial Statistics Bureau, from January to April, Hunan's industrial enterprises above designated size generated an operating revenue of more than 1.2 trillion yuan, a year-on-year increase of nearly 25%. Profits of these enterprises increased 51.8% to more than 78 billion yuan, an average increase of 18.6% in the past two years. The profit margin was 6.49%, a rise of 1.15 percentage points. 

Enterprises above designated size refer to those with a turnover exceeding 20 million yuan per annum.

Hunan’s enterprises above designated size are divided into 39 industrial sectors. From January to April 2020, only 15 sectors achieved year-on-year profit growth due to COVID-19 epidemic. In the first four months of this year, all sectors achieved profitability, of which 37 achieved year-on-year profit growth or turned their losses into profits. The efficiency of large industrial enterprises has grown rapidly, with a year-on-year increase of 92.7%. Their total profits exceeded 35 billion yuan.

The Hunan Provincial Statistics Bureau stated that the province's industrial enterprises above designated size maintained a strong growth in profits. Special equipment manufacturing industry made the greatest contribution. From January to April, Hunan's special equipment manufacturing industry achieved a profit of 18.39 billion yuan, an increase of 63.2%. This helped make a 13.8 percentage point increase in the profits of enterprise above designated size.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: Hunan Daily