A worker debugs a special robot at a workshop in the Tangshan Hi-tech Industrial Development Zone in Tangshan, north China's Hebei Province, July 17, 2020.(Photo: Xinhua)

The profits of Chinese industrial enterprises above designated size grew 57 percent in April based on year-on-year reporting, sending the profits in the first four months in 2021 up 1.06 times compared with 2020, the National Bureau of Statistics (NBS) revealed on Thursday. 

Overall, the growth in the first four months was positive and steady, however the resurgence of coronavirus abroad and the international environment is adding uncertainty, Zhu Hong, a senior statistician at NBS said in a statement on Thursday. 

At present, the prices of bulk commodities keep rising, leaving greater pressure for companies in middle and lower reaches, Zhu pointed out. 

Pushed by improving market demand and rising prices of bulk commodities, enterprises in mining industry and raw materials manufacturing reported rapid growth. 

The profits of mining companies increased 1.03 times from January to April compared with the same period last year, while the raw material manufacturing sector rose 3.66 times. 

Responding to the price fluctuations across iron ore, copper, corn and other bulk commodities, China's top economic planner announced Tuesday the action plan for strengthening price mechanism reform during the 14th Five-Year Plan (2021-25).

The consumer goods manufacturing also recorded steady recovery in the past months. 

In particular, under the rising demand for COVID-19 vaccines and testing kits within and outside China, the profits of pharmaceutical makers grew 80.2 percent in the first four months, making the recent two-year average profits up 29.2 percent. 

It its notable that profits in textile, clothing and printing sectors slightly dropped in the recent two years, however the decline in the first four months narrowed down compared with the first quarter. 

Together with improving enterprise operations, the NBS statistician found the losses of enterprises further narrowed, and the costs of every 100 yuan ($15.65) in industrial enterprises above designated size also dropped 1.39 yuan to 83.48 yuan in the first four months. 

Moving forward, greater efforts should be done to ensure stable prices of bulk commodities in order to strengthen the steady economic recovery and promote a sound development for industrial economy, Zhu said. 

Global Times