The production and operation conditions of industrial enterprises in Hunan Province have been improved and their profit margins expanded, thanks to vigorous implementation of policies and measures such as ensuring supply and price stability, and easing the difficulties of the enterprises and energizing them. The Hunan Provincial Bureau of Statistics announced the latest data. It said that between January and October, the provincial large-scale industrial enterprises achieved a profit of more than 165 billion CNY, a year-on-year increase of 14.3%. The average growth rate was 11.7% over the past two years, maintaining a rapid double-digit growth.

The bureau noted that in the first ten months, the operating incomes of large-scale industrial enterprises expanded by 14.3% year on year, laying a good foundation for the improvement of corporate profitability. Among the 39 major provincial large-scale industries, 28 gained profits or turned their losses into profits. The industrial growth coverage reached 71.8%. The raw materials manufacturing industry is the “main force” that drives the total profits to maintain rapid growth. It contributed 63.2% to the profit growth of large-scale industries, and levered the profit growth of large-scale industries by 9.0%.

The profit growth of large enterprises was significantly faster than that of small and medium ones among the industrial enterprises of different sizes. The provincial large-scale industrial enterprises made a total profit of nearly 51 billion CNY in the first 10 months of 2021, up 34.3% year on year. The micro, small, and medium-sized enterprises achieved a total profit of over 114 billion CNY, a year-on-year increase of 7.2%.

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

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn