Profit of industrial enterprises above designated size fell 19.3 pct in Jan.- May

The total profit of industrial enterprises above designated size nationwide reached 1,843.49 billion yuan in the first five months of 2020, a year-on-year decrease of 19.3 percent, narrowing 8.1 percentage points from January to April, data from the National Bureau of Statistics showed on Sunday. 

From January to May, among the industrial enterprises above designated size, state-owned enterprises realized a total profit of 440.42 billion yuan, a year-on-year decrease of 39.3 percent. The profit of joint-stock companies dropped by 19.2 percent to 1,347.88 billion yuan, while the profit of private companies fell 11 percent to 560.73 billion yuan.

During the same period, the mining industry fell 43.6 percent in profit, while the manufacturing industry fell 16.6 percent in profit.

10 of 41 major industries have seen increased profit. The computer, communications and electronic equipment manufacturing industry's profit increased by 34.7 percent year-on-year, the agricultural and sideline food processing industry's profit increased by 19.0 percent, while the special equipment manufacturing industry saw a 16.6 percent increase in profit.

In the first five months of this year, industrial enterprises above designated size achieved total operating income of 36.88 trillion yuan, a year-on-year decrease of 7.4 percent, their incurred operating costs were 31.26 trillion yuan, a decrease of 6.8 percent.