(Beijing Comprehensive News) In October in China, the profit of industrial enterprises in October has increased for the third consecutive month, but the growth rate has slowed. Beijing may need further policy support to boost the economy.
China National Bureau of Statistics released data on Monday (November 27). The profitability of industrial enterprises above designated size in October in October increased by 2.7%year -on -year, compared with the increase of 11.9%and 17.2%in August in September, the growth rate fell down.To individual digits.
In the first 10 months of this year, the profit of industrial enterprises above designated size decreased by 7.8%year -on -year, narrowing from 9%in the first nine months.
Reuters pointed out that affected by the real estate market dilemma, local government debt risks, slowdown in global growth, and geopolitical tension, China's economy is difficult to achieve a strong post -recovery after disease.Although the government has implemented a series of support measures, these policies have only produced limited results.
Xu Tianchen, a senior economist of economics think tanks, analyzed that the profit of Chinese industrial enterprises has grown for three consecutive months, showing that the worst period of profitable in investment cost, overcapacity and weak demand,EssenceHowever, the fluctuation of profits still shows that enterprises are highly sensitive to investment costs.He pointed out that the sharp slowdown in profit growth is partly driven by the rebound of energy prices.
Yu Weining, the Statistical Department of the China National Bureau of Statistics, said that the focus of work in the future will need to focus on expanding domestic demand, stimulate the vitality of operating subjects, promote the transformation and upgrading of traditional industries, and cultivate and strengthen emerging industries.
