<p>（第一財經）4 月 27 日——在更積極的經濟政策實施和有效性背景下，中國工業利潤增長在第一季度加速，營業收入利潤率達到三年來的最高水平。</p>
<p>根據國家統計局今天發佈的數據，年收入至少為 2000 萬元人民幣（290 萬美元）的工業企業在截至 3 月 31 日的三個月內利潤同比增長 15.5%，其中 3 月份增長了 15.8%。在今年前兩個月，增長率為 15.2%。</p>
<p>該期間的營業收入利潤率為 5.1%，而去年同期為 4.7%。</p>
<p>這些數據表明工業經濟呈現出積極的循環，特點是產量上升、價格穩定和質量改善，國家金融與發展研究院高級研究員龐鳴告訴第一財經。他補充説，支持性的政策環境，包括減税降費、改善融資條件和擴大內需的措施，都共同作用於利潤率的擴大。</p>
<p>根據中國銀河證券的研究報告，今年開局強勁反映了當前經濟階段，外部需求相對支持，國內需求適度恢復，價格逐漸回升。但利潤改善的可持續性仍然依賴於內外部條件的動態變化。</p>
<p>不過，外部不確定性依然很多，國內強供弱需之間的矛盾仍需解決，國家統計局工業司首席統計師餘偉寧表示。</p>
<p>餘偉寧補充道，將進一步努力在尋求進步的同時保持穩定，提高質量和效率，促進工業經濟質量的實質性改善，從而鞏固工業企業良好表現的基礎。</p>
<p>國家統計局的數據還顯示，規模以上高科技製造業的利潤在這一季度激增超過 47%，為整體工業利潤增長貢獻了 7.9 個百分點。</p>
<p>人工智能和半導體行業的快速增長推動光纖、光電和顯示器製造商的利潤分別增長了 337%、43% 和 36%。</p>
<p>高科技製造商，尤其是電子和通信設備領域的穩健利潤增長，表明工業升級和新的優質生產力釋放的速度快於以往，龐鳴表示。在他看來，技術溢價正在取代依賴重資源投入的舊增長模式。</p>
<p>編輯：Futura Costaglione</p>

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<p>中國工業利潤在第一季度增長了 15.5%，營業利潤率達到三年來的最高點 5.1%。這一增長歸因於積極的經濟政策，包括減税和改善融資條件。高科技製造商的利潤激增超過 47%，得益於人工智能和半導體領域的進步。儘管趨勢向好，但仍面臨外部不確定性和國內需求問題等挑戰。專家強調，需要在工業部門實現穩定和質量提升，以維持這一增長</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>（第一財經）4 月 27 日——在更積極的經濟政策實施和有效性背景下，中國工業利潤增長在第一季度加速，營業收入利潤率達到三年來的最高水平。</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>根據國家統計局今天發佈的數據，年收入至少為 2000 萬元人民幣（290 萬美元）的工業企業在截至 3 月 31 日的三個月內利潤同比增長 15.5%，其中 3 月份增長了 15.8%。在今年前兩個月，增長率為 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>該期間的營業收入利潤率為 5.1%，而去年同期為 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>這些數據表明工業經濟呈現出積極的循環，特點是產量上升、價格穩定和質量改善，國家金融與發展研究院高級研究員龐鳴告訴第一財經。他補充説，支持性的政策環境，包括減税降費、改善融資條件和擴大內需的措施，都共同作用於利潤率的擴大。</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>根據中國銀河證券的研究報告，今年開局強勁反映了當前經濟階段，外部需求相對支持，國內需求適度恢復，價格逐漸回升。但利潤改善的可持續性仍然依賴於內外部條件的動態變化。</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>不過，外部不確定性依然很多，國內強供弱需之間的矛盾仍需解決，國家統計局工業司首席統計師餘偉寧表示。</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>餘偉寧補充道，將進一步努力在尋求進步的同時保持穩定，提高質量和效率，促進工業經濟質量的實質性改善，從而鞏固工業企業良好表現的基礎。</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>國家統計局的數據還顯示，規模以上高科技製造業的利潤在這一季度激增超過 47%，為整體工業利潤增長貢獻了 7.9 個百分點。</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>人工智能和半導體行業的快速增長推動光纖、光電和顯示器製造商的利潤分別增長了 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>高科技製造商，尤其是電子和通信設備領域的穩健利潤增長，表明工業升級和新的優質生產力釋放的速度快於以往，龐鳴表示。在他看來，技術溢價正在取代依賴重資源投入的舊增長模式。</p>
</div><p>Editor: Futura Costaglione</p>
<div class="lb-trans"><p>編輯：Futura Costaglione</p>
</div>

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

- 中國工業利潤在第一季度同比增長 15.5%，營業收入利潤率達 5.1%。
- 規模以上高科技製造業利潤激增超過 47%，推動整體增長。
- 支持性政策促使工業經濟循環積極，但外部不確定性仍然存在。

中國工業利潤在第一季度增長加速，營業利潤率達到三年來的最高點