On August 27, the National Bureau of Statistics released an announcement on the profit data of industrial enterprises above designated size nationwide from January to July.

The data shows that from January to July, the national industrial enterprises above designated size achieved a total profit of 492.395 billion yuan, a year-on-year increase of 57.3%, an increase of 44.6% from January to July 2019, and an average increase of 20.2% over the two years.

Focusing on the furniture industry, in the first seven months, the furniture manufacturing industry' s operating income was 430.26 billion yuan, a year-on-year increase of 25.2%; operating costs were 360.07 billion yuan, a year-on-year increase of 25.2%; total profits were 22.33 billion yuan, a year-on-year increase of 31%.

The textile industry' s operating revenue was 138.72 billion yuan, 15.9% year-on-year; operating costs were 1,229.37 billion yuan, a year-on-year increase of 16.5%; total profits were 54.56 billion yuan, a year-on-year increase of 4.2%.

The operating income of wood processing and wood, bamboo, rattan, palm, and straw products was 513.8 billion yuan, an increase of 17.9% year-on-year; operating costs were 463.55 billion yuan, an increase of 18.1% year-on-year; total profits were 18.19 billion yuan, an increase of 13.1% year-on-year.

Zhu Hong, a senior statistician from the Department of Industry of the National Bureau of Statistics, interpreted the profit data of industrial enterprises and said that in July, the profitability of the consumer goods manufacturing industry continued to recover. Among them, benefiting from factors such as the gradual recovery of market demand and the increase in investment income, the profits of furniture and textiles increased by 41.9% and 13.0% respectively year-on-year, continuing to maintain the momentum of recovery.

On the whole, the profits of industrial enterprises above designated size maintained a steady growth in July, but it must be noted that the imbalance and uncertainty of the improvement of industrial enterprise benefits still exist.

First, the foreign epidemic situation has continued to evolve. Since late July, some areas in the country have spread epidemics and superimposed flood conditions, and the benefits of industrial enterprises have continued to be tested in a stable recovery; second, the prices of bulk commodities are generally operating at a high level, and the pressure of rising corporate costs has gradually appeared, especially in the middle and lower reaches of the small profitability of micro-enterprises is constantly being squeezed.

In the next stage, it is necessary to do a good job in ensuring the supply of bulk commodities and stabilizing prices, help companies relieve difficulties, strengthen technological innovation, improve the resilience of the industrial chain and supply chain, and continuously promote the high-quality development of the industrial economy.