Industrial enterprise data once again confirms that the economy has stabilized and rebounded

As the macro economy stabilizes and rebounds, the profits of industrial enterprises have gradually improved. According to data released by the National Bureau of Statistics yesterday, in 2012, the industrial enterprises above designated size achieved a profit of 555.78 billion yuan, a year-on-year increase of 5.3%. This is the cumulative year-on-year growth rate of industrial enterprises' profits, which has maintained positive growth for three consecutive months.

From the monthly data, the profit in December last year was 895.2 billion yuan, a year-on-year increase of 17.3%. Although this growth rate has dropped from the growth rate of more than 22% last month, the monthly growth rate is still growing for four consecutive months.

The improvement in profits of industrial enterprises indicates that industrial production is recovering, and it has further verified the trend of economic stabilization and recovery.

According to statistics from the Bureau of Statistics, the economic growth rate in the fourth quarter of last year was 7.9%, which was the first time since the slowdown in seven consecutive quarters. The annual growth rate was 7.8%, and the target of 7.5% set at the beginning of last year was successfully completed. Ma Jiantang, director of the National Bureau of Statistics, said: "With the relatively stable national economy in the fourth quarter of last year, this momentum will continue in 2013."

Entering 2013, the macroeconomic leading indicators also suggest that the rebound trend continues. Earlier, the initial value of HSBC PMI in January hit a new high in the past two years. It is widely expected that the official PMI data to be released this Friday will continue to rise.

In terms of ownership, the decline in profits of state-owned enterprises has further narrowed, while private enterprises have maintained a relatively high growth rate. According to yesterday's data, in 2012, among the industrial enterprises above designated size, state-owned and state-controlled enterprises realized profits of 1,416.3 billion yuan, down 5.1% year-on-year; collective enterprises realized profits of 81.9 billion yuan, up 7.5% year-on-year; joint-stock enterprises realized profits of 3,286.7 billion yuan. The year-on-year growth was 7.2%; foreign-invested enterprises from Hong Kong, Macao and Taiwan achieved profits of 1,268.8 billion yuan, down 4.1% year-on-year; private enterprises realized profits of 1,817.2 billion yuan, up 20% year-on-year.

In terms of industries, among the 41 industrial categories, 29 industries saw a year-on-year increase in profits, 11 industries fell year-on-year, and 1 industry turned from a loss to a profit.

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