Since the beginning of this year, in the face of the complex and severe economic situation at home and abroad, all regions and departments have stepped up efforts to stabilize growth and support the real economy. A few days ago, the National Bureau of Statistics released data showing that in the first two months, the industrial economy recovered steadily, and corporate profits continued to grow year-on-year.

From January to February, the national industrial enterprises above designated size realized a total profit of 1,157.56 billion yuan, a year-on-year increase of 5.0%, and the growth rate rebounded by 0.8 percentage points from December last year. What is particularly rare is that the increase in profits of industrial enterprises was achieved on the basis of a relatively high base in the same period last year. Among the 41 major industrial sectors, 22 have achieved year-on-year profit growth or reduced losses, and 15 of them have achieved a profit growth rate of more than 10%. Driven by factors such as the Spring Festival boosting consumption, the profits of some companies in the consumer goods industry have grown rapidly.

From January to February, the profits of textile, food manufacturing, cultural, educational, industrial and aesthetic industries increased by 13.1%, 12.3%, and 10.5% year-on-year respectively. In addition, the profits of enterprises in industries such as electrical machinery and equipment manufacturing and special equipment manufacturing have increased significantly. Driven by factors such as rising international raw material and energy prices, the profits of oil and natural gas mining, coal mining and selection, non-ferrous metal smelting, chemical industry and other industries have grown rapidly.

Overall, the benefits of industrial enterprises continued the recovery trend since last year. In particular, while corporate assets are growing rapidly, the asset-liability ratio has declined. At the end of February, the asset-liability ratio of industrial enterprises above designated size was 56.3%, continuing to maintain a downward trend.