CCTV News: According to the National Bureau of Statistics, in 2024, the operating income of industrial enterprises above designated size maintained growth, achieving a total profit of more than 7.4 trillion yuan, and the profits of new industrial momentum represented by high-tech manufacturing increased rapidly. Especially after the timely introduction of a package of incremental policies, the industrial economy showed a trend of continuous recovery in production and continuous recovery of benefits.

The profits of industrial enterprises turned from decline to increase in the month, and the decline in the fourth quarter narrowed significantly. In December 2024, the profits of large-scale industrial enterprises across the country changed from a year-on-year decrease of 7.3% in November to an increase of 11.0%; operating income increased by 4.2% year-on-year, accelerating by 3.7 percentage points from November. After a package of incremental policies was introduced in a timely manner, the profits of industrial enterprises steadily recovered in the fourth quarter, with a sharp decline of 12.7 percentage points compared with the third quarter. From the whole year, in 2024, the operating income of industrial enterprises above designated size increased by 2.1% compared with the previous year, and the total profit was 743.105 billion yuan, a decrease of 3.3% compared with the previous year.

High-tech manufacturing industry highlights the driving force for development. In 2024, new industrial momentum will accelerate development, driving the profits of high-tech manufacturing industry to grow by 4.5% over the previous year, 7.8 percentage points higher than the average level of industrial above-scale, and driving the profits of industrial above-scale by 0.8 percentage points. In the high-end equipment manufacturing industry, the profits of industries such as optoelectronic device manufacturing, spacecraft and launch vehicle manufacturing increased by 66.9% and 13.4% respectively compared with the previous year; in the field of intelligence, the profits of industries such as intelligent unmanned aircraft manufacturing, intelligent vehicle equipment manufacturing, and wearable intelligent equipment manufacturing increased by 164.7%, 112.8% and 37.7% respectively; in terms of green manufacturing, the lithium-ion battery manufacturing industry increased by 48.5%. Among other high-tech industries, electronic circuit manufacturing, navigation surveying and mapping meteorological, marine special instrument manufacturing, optical instrument manufacturing and other industries grew by 30.3%, 26.3%, and 13.2%, respectively, all maintaining a rapid growth trend.

The "ballast stone" in the equipment manufacturing industry has obvious effect. In 2024, 5 of the eight industries in the equipment manufacturing industry achieved profit growth, and 6 industries had improved profits compared with January-November, providing important support for the recovery of industrial profits above designated size. Among them, the profits of railway, ship, aerospace, instrumentation, electronics and other industries increased by 21.5%, 3.5% and 3.4% respectively compared with the previous year; the profit decline in the metal products and electrical machinery industries narrowed by 1.4 and 1.1 percentage points respectively from January to November.

The driving effect of the "two new" policies continues to emerge. After the timely introduction of a package of incremental policies, the profits of related industries have improved significantly. Driven by policies related to large-scale equipment updates, in the fourth quarter of 2024, the profits of the special equipment and general equipment industries increased by 18.4% and 1.8% year-on-year respectively, and decreased by 8.1% and 5.6% in the third quarter. Among them, the profits of industries such as medical instruments and equipment manufacturing, bearing gears and transmission parts manufacturing, and chemical wood non-metal processing equipment manufacturing increased rapidly, with year-on-year growth of 32.9%, 15.1%, and 14.8%, respectively. The old-for-new policy for consumer goods such as home appliances, home decoration, kitchen and bathroom continues to be effective. In the fourth quarter of 2024, the profits of the electrical machinery industry increased by 11.3% year-on-year, and decreased by 5.7% in the third quarter. Among them, the profits of industries such as household refrigeration appliance manufacturing, household cleaning and sanitary appliance manufacturing, and household air conditioner manufacturing increased by 174.9%, 42.8%, and 30.6% respectively.

The profits of consumer goods manufacturing industry have grown steadily. In 2024, with the efforts of a series of policies to expand domestic demand and promote consumption, and the continued increase in industrial product exports, the profits of consumer goods manufacturing increased by 3.4% compared with the previous year. Among them, profits in industries such as chemical fiber, wine, beverage, tea, food manufacturing, culture, education, and aesthetics all maintained rapid growth, with an increase of 33.6%, 7.1%, 6.3% and 4.8% respectively throughout the year.

Overall, although the profits of industrial enterprises above designated size are still in the decline range in 2024, after a package of incremental policies were introduced in a timely manner, the benefits of industrial enterprises showed a continuous recovery trend. In the next stage, we must continue to thoroughly implement the spirit of the Central Economic Work Conference, expand domestic demand in all aspects, accelerate the formation of new quality productivity, and promote the recovery and improvement of industrial enterprises' efficiency.