<p>（第一财经）4 月 27 日——在更积极的经济政策实施和有效性背景下，中国工业利润增长在第一季度加速，营业收入利润率达到三年来的最高水平。</p>
<p>根据国家统计局今天发布的数据，年收入至少为 2000 万元人民币（290 万美元）的工业企业在截至 3 月 31 日的三个月内利润同比增长 15.5%，其中 3 月份增长了 15.8%。在今年前两个月，增长率为 15.2%。</p>
<p>该期间的营业收入利润率为 5.1%，而去年同期为 4.7%。</p>
<p>这些数据表明工业经济呈现出积极的循环，特点是产量上升、价格稳定和质量改善，国家金融与发展研究院高级研究员庞鸣告诉第一财经。他补充说，支持性的政策环境，包括减税降费、改善融资条件和扩大内需的措施，都共同作用于利润率的扩大。</p>
<p>根据中国银河证券的研究报告，今年开局强劲反映了当前经济阶段，外部需求相对支持，国内需求适度恢复，价格逐渐回升。但利润改善的可持续性仍然依赖于内外部条件的动态变化。</p>
<p>不过，外部不确定性依然很多，国内强供弱需之间的矛盾仍需解决，国家统计局工业司首席统计师余伟宁表示。</p>
<p>余伟宁补充道，将进一步努力在寻求进步的同时保持稳定，提高质量和效率，促进工业经济质量的实质性改善，从而巩固工业企业良好表现的基础。</p>
<p>国家统计局的数据还显示，规模以上高科技制造业的利润在这一季度激增超过 47%，为整体工业利润增长贡献了 7.9 个百分点。</p>
<p>人工智能和半导体行业的快速增长推动光纤、光电和显示器制造商的利润分别增长了 337%、43% 和 36%。</p>
<p>高科技制造商，尤其是电子和通信设备领域的稳健利润增长，表明工业升级和新的优质生产力释放的速度快于以往，庞鸣表示。在他看来，技术溢价正在取代依赖重资源投入的旧增长模式。</p>
<p>编辑：Futura Costaglione</p>

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<p>中国工业利润在第一季度增长了 15.5%，营业利润率达到三年来的最高点 5.1%。这一增长归因于积极的经济政策，包括减税和改善融资条件。高科技制造商的利润激增超过 47%，得益于人工智能和半导体领域的进步。尽管趋势向好，但仍面临外部不确定性和国内需求问题等挑战。专家强调，需要在工业部门实现稳定和质量提升，以维持这一增长</p>

<p>(Yicai) April 27 -- China’s industrial profit growth accelerated in the first quarter, while the profit margin on operating revenue was the highest in three years, amid the implementation and effectiveness of more proactive economic policies.</p>
<div class="lb-trans"><p>（第一财经）4 月 27 日——在更积极的经济政策实施和有效性背景下，中国工业利润增长在第一季度加速，营业收入利润率达到三年来的最高水平。</p>
</div><p>Profit at industrial firms with at least CNY20 million (USD2.9 million) in annual revenue jumped 15.5 percent in the three months ended March 31 from a year earlier, boosted by a 15.8 percent increase in March, according to data released by the National Bureau of Statistics today. In the first two months of the year, the growth rate was 15.2 percent.</p>
<div class="lb-trans"><p>根据国家统计局今天发布的数据，年收入至少为 2000 万元人民币（290 万美元）的工业企业在截至 3 月 31 日的三个月内利润同比增长 15.5%，其中 3 月份增长了 15.8%。在今年前两个月，增长率为 15.2%。</p>
</div><p>Their profit margin on operating revenue stood at 5.1 percent in the period, compared with a 4.7 percent gain a year earlier.</p>
<div class="lb-trans"><p>该期间的营业收入利润率为 5.1%，而去年同期为 4.7%。</p>
</div><p>The figures show a positive cycle in the industrial economy, characterized by rising volumes, stable prices, and improving quality, Pang Ming, senior researcher at the National Institute for Finance and Development, told Yicai. The supportive policy environment, including tax and fee cuts, improved financing conditions, and measures to expand domestic demand, have all worked together to widen profit margins as well, he added.</p>
<div class="lb-trans"><p>这些数据表明工业经济呈现出积极的循环，特点是产量上升、价格稳定和质量改善，国家金融与发展研究院高级研究员庞鸣告诉第一财经。他补充说，支持性的政策环境，包括减税降费、改善融资条件和扩大内需的措施，都共同作用于利润率的扩大。</p>
</div><p>This strong start to the year reflects the current economic stage in which external demand is relatively supportive, domestic demand is recovering moderately, and prices are gradually rebounding, according to a research report by China Galaxy Securities. But the sustainability of profit improvement still depends on dynamic changes in internal and external conditions, it noted.</p>
<div class="lb-trans"><p>根据中国银河证券的研究报告，今年开局强劲反映了当前经济阶段，外部需求相对支持，国内需求适度恢复，价格逐渐回升。但利润改善的可持续性仍然依赖于内外部条件的动态变化。</p>
</div><p>Still, external uncertainties remain numerous, and the contradiction between strong supply and weak demand at home still needs to be resolved, according to Yu Weining, chief statistician in the NBS' industrial department.</p>
<div class="lb-trans"><p>不过，外部不确定性依然很多，国内强供弱需之间的矛盾仍需解决，国家统计局工业司首席统计师余伟宁表示。</p>
</div><p>Further efforts will be made to maintain stability while seeking progress, enhance quality and efficiency, and promote a meaningful improvement in the quality of the industrial economy, thereby consolidating the foundation for the positive performance of industrial enterprises, Yu added.</p>
<div class="lb-trans"><p>余伟宁补充道，将进一步努力在寻求进步的同时保持稳定，提高质量和效率，促进工业经济质量的实质性改善，从而巩固工业企业良好表现的基础。</p>
</div><p>Profit at high-tech manufacturers above the designated size surged more than 47 percent in the quarter, contributing 7.9 percentage points to the overall industrial profit growth, NBS data also showed.</p>
<div class="lb-trans"><p>国家统计局的数据还显示，规模以上高科技制造业的利润在这一季度激增超过 47%，为整体工业利润增长贡献了 7.9 个百分点。</p>
</div><p>Rapid growth in the artificial intelligence and semiconductor industries drove up profits at fiber optic, optoelectronic, and display makers by 337 percent, 43 percent, and 36 percent, respectively.</p>
<div class="lb-trans"><p>人工智能和半导体行业的快速增长推动光纤、光电和显示器制造商的利润分别增长了 337%、43% 和 36%。</p>
</div><p>Solid profit growth at high-tech manufacturers, especially those in electronics and communication equipment, shows that industrial upgrading and new quality productive forces are being released faster than before, Pang said. In his view, technology premiums are replacing the old growth model that depended on heavy resource input.</p>
<div class="lb-trans"><p>高科技制造商，尤其是电子和通信设备领域的稳健利润增长，表明工业升级和新的优质生产力释放的速度快于以往，庞鸣表示。在他看来，技术溢价正在取代依赖重资源投入的旧增长模式。</p>
</div><p>Editor: Futura Costaglione</p>
<div class="lb-trans"><p>编辑：Futura Costaglione</p>
</div>

China’s Industrial Profits Grow Faster in First Quarter as Operating Margin Hits Three-Year High

- 中国工业利润在第一季度同比增长 15.5%，营业收入利润率达 5.1%。
- 规模以上高科技制造业利润激增超过 47%，推动整体增长。
- 支持性政策促使工业经济循环积极，但外部不确定性仍然存在。

中国工业利润在第一季度增长加速，营业利润率达到三年来的最高点