China's industrial enterprises see rising profitability in Oct

⁠⁠⁠⁠⁠⁠⁠China's industrial enterprises have seen rising profitability in October with the profit decline narrowing significantly thanks to the government's incentive polices across industries, particularly in equipment and high-tech manufacturing sectors which posted improved profitability, official data showed Wednesday. 

Driven by stable industrial production and better alignment between production and sales, the revenue of major industrial enterprises (those with annual main business revenue of 20 million yuan or more, referred to as "enterprises above designated size") fell at a slower pace of in October, with the decline narrowing by 0.7 percentage points compared to the previous month. 

This revenue recovery also helped reduce profit declines. The combined profit of major industrial enterprises went down 10 percent year on year in October, marking a significant narrowing from the 27.1 percent drop in September, according to the National Bureau of Statistics. 

More than 60 percent of industrial sectors reported better profitability in October. Out of 41 major industrial categories, 27 industries witnessed profit improvements. Among them, the manufacturing sector saw its profit decline narrow sharply by 22.3 percentage points, which led to a 17.8 percentage point reduction in overall industrial profit decline. The equipment manufacturing sector turned profitable, registering a 4.5 percent annual growth and contributing significantly to the broader recovery. 

High-tech manufacturing industries remained major driving forces in October. Profits in high-tech manufacturing rose by 12.9 percent year-on-year, translating to a 1.9 percentage point increase in the overall profit growth. Among these, industries such as wearable smart device manufacturing, and sensitive components and sensor manufacturing recorded year-on-year profit growth of 73.3 percent and 48.8 percent, respectively. 

Chen Xi, associate researcher at the Academy of Macroeconomic Research under National Development and Reform Commission, expressed optimism about the industrial outlook.

"Both production and investment in high-tech manufacturing have maintained relatively fast growth, giving a boost to corporate profits. Market confidence and corporate expectations have also been bolstered. A series of subsequent policies are also increasing support for enterprises, with a special focus on expanding domestic demand, developing new quality productive forces and fostering a favorable environment for industrial enterprises’ production and operation. The driving forces and positive factors in industrial economic operation are on the rise, and the performance of industrial enterprises are expected to recover,"said Chen.

"The driving forces and positive factors in industrial economic operation are on the rise, and the performance of industrial enterprises are expected to recover," she added.

China's industrial enterprises see rising profitability in Oct

A delegation of 40 students and teachers from seven Chinese mainland universities arrived at Taiwan's Taoyuan International Airport on Wednesday, embarking on their nine-day visit to the island.

Invited by the Taiwan-based Ma Ying-jeou Culture and Education Foundation, the delegation is led by Qiu Yong, chairman of Tsinghua University Council.

The delegation includes table tennis Olympic champion Ma Long studying at Beijing Sport University, and air rifle Olympic champion Yang Qian studying at Tsinghua University.

"I came from Taipei today, and I arrived at Taoyuan Airport at 09:30 because I was worried that there would be too many people here. I brought the photos that my friends sent me today, and I'm very happy. I also wrote a letter to Ma Long because I was worried that I would be too excited if I really saw him in person. We welcome students from the mainland to come to Taiwan for exchanges, and wish them to enjoy delicious food and drink and have fun here," said Lai Chin-hsuan, a Taiwan resident.

This is the second delegation of mainland teachers and students visiting Taiwan at the invitation of the Ma Ying-jeou Foundation, following the first delegation in July last year.

The delegation visited a high school on Wednesday afternoon as scheduled.

Hsiao Hsu-tsen, executive director of the foundation, said exchanges and contacts between young people of the mainland and Taiwan region are very important to the development of cross-Strait relations.

"When I arrived earlier, the fans had already lining up at the airport a few hours in advance, so I really think this is a very exciting phenomenon. It means that no matter how depressed the cross-Strait relationship is, sports and youth exchanges will always be common topics and language between the two sides. College students and high school students on both sides of the Taiwan Strait need to know each other very much. I think it is very meaningful to have so many top mainland students visit our most outstanding high school in Taiwan today," said Hsiao.

Besides the high school, the delegation is scheduled to visit some universities, the Taipei 101 tower and the Taipei Palace Museum from Nov 28 to 30. It will also visit the Sun Moon Lake, participate in a baseball activity and visit another historical museum from Dec 1 to 4.

Delegation of mainland university students, teachers embarks on Taiwan visit