In the first half of 2023, total profit of industrial enterprises above designated size reached RMB3.39 trillion, down 16.8% YoY, down two percentage points from January-May decline (June, RMB719.76 billion, down 8.3% YoY), according to data the National Bureau of Statistics issued on July 27. More specifically, state-holding enterprises realized total profit of RMB1.2 trillion, down 21% YoY; share-holding enterprises, RMB2.49 trillion, down 18.1% YoY; enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan, RMB796.68 billion, down 12.8% YoY; private enterprises, RMB868.92 billion, down 13.5% YoY.

H1 profit of the mining industry was down 19.9% YoY to RMB681.68 billion, that of the manufacturing industry down 20% YoY to RMB2.39 trillion, and that of the production and supply of electricity, heat power, gas and water up 34.1% YoY to RMB319.31 billion.

From January to June, among the 41 industrial categories, 12 industries saw year-on-year increase in total profit, and 29 industries saw a decline. In detail, the total profit of production and supply of electricity and heat power was up 46.5% YoY, that of the manufacture of electrical machinery and apparatus up 29.1% YoY, that of the manufacture of general purpose machinery up 17.9% YoY, that of the manufacture of automobiles up 10.1% YoY, that of the manufacture of special purpose machinery up 3.9% YoY, that of the extraction of petroleum and natural gas down 12.2% YoY, that of the mining and washing of coal down 23.3% YoY, that of the textile industry down 23.8% YoY, that of the manufacture of computers, communication equipment and other electronic equipment down 25.2% YoY, that of the manufacture of non-metallic mineral products down 26.6% YoY, that of the processing of food from agricultural and sideline products down 33.2% YoY, that of the smelting and pressing of non-ferrous metals down 44% YoY, that of the chemical industry down 52.2% YoY, that of the processing of petroleum, coal and other fuel down 92.3% YoY, and that of the smelting and pressing of ferrous metals down 97.6% YoY.