Smaller than 1-February 14.4%, down 22.9%, the latest statistics show that 1-May, the national scale of industrial enterprises to achieve profits of 850.2 billion yuan, down 22.9% per cent, down more than 1-February reduction of 14.4%. In this connection, the National Bureau of Statistics related officials said that price stabilisation, demand recovery and cost decline is the main reason for the decline in industrial profits. Zhang Yongjun, a researcher at the Ministry of Economic forecasting at the National Information Center, said the decline in industrial profits showed that the industrial situation was beginning to improve, under the influence of macroeconomic recovery. The Ministry of Industry and Information Technology, the Bureau of Operations issued a previous report that the second half of this year's industrial value is expected to reach more than 10% growth level. From statistical data analysis, 1-May, non-ferrous metal smelting and calendering processing, steel, chemical fiber and other industries from 1-February losses to profit, power industry profits from 1-February decline 77% to increase 14.6%, the oil processing and coking industry from the same period last year, the loss of 44.9 billion yuan to profit 44.8 billion yuan. In this respect, the Bureau of Statistics in charge of the 39 industries in the industry, 30 industry profit growth than 1-February rebound or decline in school this is mainly because of the two quarter, the price of the collapse phase of the basic end, the stable situation is obvious. However, Changbaoliang, an economist at the National Information Center, predicts that the export situation is still grim and that, combined with overcapacity in the domestic market, it will take some time for the industry to recover fully. Last year's four quarter to the beginning of this year, the sharp fall in prices led to a huge loss of industrial inventories. According to estimates, the first two months of a sharp decline in industrial profits two-thirds of the factors from the decline in prices, while the price factor is mainly reflected in the loss of inventories. Everbright Securities Chief macro analyst Pan Xiangdong that, from the industry distribution, the current decline in corporate profits is still heavy chemical industry such as steel, which shows that the current heavy chemical industry overcapacity problem remains grim.
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