The People's Daily Dec 05, 2022 15:00:35
China National Light Industry Council recently released the economic operation of China’s light industry from January to October. Data shows that in the first 10 months, China’s above-scale light industry enterprises topped 19.37 trillion yuan of business income, an increase of 6.7%. At present, with the stabilization of the economic policy package and successive policy measures, the light industry economy continues to recover generally.
The industry production and demand remained stable. In terms of production, from January to October, the growth of the light industry grew by 3.6% year-on-year, with a growth rate of 0.2% higher than that of the manufacturing sector. Some light industry’s growth maintains a faster growth. Growth rates of manufacturing industries such as battery manufacturing, moped, and daily chemical products have exceeded more than 10%. In terms of consumption, the overall light industry consumer market continues to grow. From January to October, the retail sales of 10 categories of light industry goods amounted to 556.98 billion yuan, up 2.1% year-on-year, higher than the growth rate of total retail sales of social goods by 1.5 %.
The profit continues to be improved. With the effect of more consumption-promoting policies, the light industry profit growth rate has grown month by month. From January to October, above-scale light industry enterprises achieved a profit of 11842.6 billion yuan, up 9.8%, with a growth rate up 0.9% than that of January to September. Its operating income profit margin reached 6.11%, an increase of 0.17%, 0.8 % higher than the manufacturing industry.
The investment scale continues to expand. The major light industry investment in fixed assets in 2022 continued to expand on the basis of a steady recovery in the previous year. In the first 10 months, in addition to the paper industry, light industry investment in major industries has maintained double-digit rapid growth, and the growth rate is higher than the national and manufacturing investment growth rate, among which, leather, cultural, and sports, wood processing and other industries investment growth rate are more than 20%.
Author: Reporter Han Xin
