China's industrial firms see higher revenue in Jan-Nov

BEIJING - The performance of major Chinese industrial enterprises continued to recover in November as a series of government policies came into play.

From January to November, the operating revenue of major industrial enterprises reached 123.48 trillion yuan ($17.18 trillion), up 1.8 percent year-on-year, according to the National Bureau of Statistics (NBS) on Friday.

In November alone, the operating revenue of China's major industrial enterprises has reversed from a 0.2 percent decline in October to a rise of 0.5 percent year-on-year, NBS data showed.

NBS statistician Yu Weining attributed the improvement to the implementation of existing policies and a package of incremental measures, noting that industrial production in November registered steady growth.

During the first 11 months, the combined profit of major industrial enterprises topped 6.66 trillion yuan, down 4.7 percent year-on-year.

However, supportive policies, including large-scale equipment upgrades and consumer goods trade-in programs, continued to show effectiveness in November, and the profits of related industries grew rapidly.

For instance, the profit of the special equipment manufacturing industry increased by 36.7 percent year-on-year, while that of industries related to home appliances, home decoration, and products for kitchens and bathrooms also saw rapid growth.

Besides, profits of high-end, intelligent, and green manufacturing industries witnessed rapid improvement in November. Optoelectronic device manufacturing and aerospace-related equipment manufacturing saw their profits increase by 41.1 percent and 14.3 percent year-on-year, respectively. The profit of the wearable smart device manufacturing industry increased by 90.3 percent. The lithium-ion battery manufacturing industry also saw higher profits.

Yu said that in the next stage, efforts must be made to ensure policy implementation, boost development vigor, and promote the stable recovery of the industrial economy.