Interpretation by the National Bureau of Statistics: The profits of large-scale industrial enterprises are expected to increase by 2025, with new driving forces providing significant support and driving force.

In 2025, the chief statistician of the Industrial Department of the National Bureau of Statistics, Yu Weining, interpreted the industrial enterprise profit data, indicating that in 2025, regions and departments across the country are intensifying the implementation of more proactive macroeconomic policies, accelerating the advancement of new industrialization, and promoting the stable and positive operation of the industrial economy. The annual profit of industrial enterprises has achieved growth, reversing the continuous three-year decline trend. The new driving forces such as equipment manufacturing and high-tech manufacturing have played a significant role, while the profit structure of traditional industries continues to optimize, and the quality and efficiency of industrial economic development continue to improve. Industrial enterprise profits have grown. In 2025, the profits of industrial enterprises above a certain scale in the country increased by 0.6% compared to the previous year. In terms of the three major categories, manufacturing industry grew by 5.0%, with a growth rate significantly higher than that of 2024 by 8.9 percentage points; electricity, heat, gas, and water production and supply industry grew by 9.4%; and mining industry declined by 26.2%. In December, the profit of industrial enterprises above a certain scale for that month shifted from a 13.1% decline in November to a 5.3% growth, an increase of 18.4 percentage points. Equipment manufacturing provides a solid support for the optimization of industry. In 2025, the profits of equipment manufacturing enterprises above a certain scale increased by 7.7% compared to the previous year, driving an overall increase in profits of all industrial enterprises above a certain scale by 2.8 percentage points, making it the sector with the strongest driving force for profit growth in industrial enterprises of scale. The profit of equipment manufacturing enterprises above a certain scale accounted for 39.8% of all industrial enterprise profits, an increase of 2.6 percentage points from the previous year, further optimizing the profit structure of industrial enterprises. In terms of industries, profits of seven out of the eight major categories in the equipment manufacturing industry increased compared to the previous year, with double-digit growth in industries such as railways, ships, aerospace, and electronics reporting growth rates of 31.2% and 19.5% respectively; specialized equipment, electrical machinery, and general machinery industries maintained growth with growth rates of 5.7%, 4.9%, and 4.2% respectively. High-tech manufacturing injects strong momentum into high-quality industrial development. In 2025, the profits of high-tech manufacturing enterprises above a certain scale increased by 13.3% compared to the previous year, which was 12.7 percentage points higher than all industrial enterprises above a certain scale. In terms of industries, the creation of smart electronic products drives the profit growth of the smart consumer electronics manufacturing industry by 48.0% over the previous year, with the profits of industries such as smart unmanned aerial systems manufacturing and smart vehicle equipment manufacturing growing by 102.0% and 88.8% respectively; the semiconductor industry chain experiences accelerated growth, with the profits of integrated circuit manufacturing, semiconductor device manufacturing equipment, electronic component and electromechanical components manufacturing, and sensitive components and sensor manufacturing industries growing by 172.6%, 128.0%, 49.1%, and 33.3% respectively; the high-quality development of the medical field is evident, with profits for industries such as gene engineering drugs and vaccine manufacturing, biopharmaceutical manufacturing, and dental devices and equipment manufacturing increasing by 72.7%, 37.1%, and 29.7% respectively. Traditional industries continue to enhance their quality and upgrade, contributing to the growth of new industrial forces. In 2025, the development of new quality production capacity in traditional industries continues to show results, with profits significantly higher than the industry average. In the chemical industry, profits of industries such as agricultural chemical and microbial pesticide manufacturing, and cultural information chemicals manufacturing increased by 20.7% and 15.2% respectively over the previous year, which were higher than the chemical industry average by 28.0 and 22.5 percentage points; in the chemical fiber and electricity industries, profits of industries such as bio-based chemical fiber manufacturing and biomass energy generation increased by 88.6% and 47.9% respectively, which were higher than the average level of their respective industries by 93.1 and 34.0 percentage points. Profits of diversified business entities have improved. In 2025, among industrial enterprises above a certain scale nationwide, the profit growth rates of small and medium-sized enterprises, foreign-invested enterprises, and enterprises invested by Hong Kong, Macao, and Taiwan all turned from negative to positive, with annual profits increasing by 1.4% and 4.2% respectively compared to the previous year, while they declined by 1.9% and 1.7% in 2024; profits of joint-stock enterprises and state-owned holding enterprises improved significantly, with the decline in profits narrowing by 3.5 and 0.7 percentage points respectively compared to the previous year. Overall, profits of industrial enterprises above a certain scale have achieved growth, with significant support from new industrial driving forces, leading to a shift towards better quality in industrial economic development. However, it is also important to note that external environmental changes are gradually deepening their impact, and the transformation and upgrading of industries are facing challenges, with some enterprises still experiencing difficulties in production and operation. In the next stage, efforts should continue to promote the deep integration of technological innovation and industrial innovation, continuously optimize the industrial structure, accelerate the cultivation of new productive forces, and drive the continuous improvement of industrial enterprise efficiency. Source: Official website of the National Bureau of Statistics; GMTEight Editor: Chen Xiaoyi.