The leverage ratio of industrial enterprises also decreased. At the end of May, the asset-liability ratio of industrial enterprises above designated size was 56.6%, down 0.6 percentage points year-on-year.
Among them, the asset-liability ratio of state-owned holding companies was 59.5%, down 1.5 percentage points year-on-year, and the de-leveraging effect of state-owned stainless steel coil enterprises was more significant.
He Ping analyzed the effect of rising prices on the profits of industrial enterprises.
In May, the ex-factory price of industrial producers rose by 4.1% year-on-year, which was 0.7 percentage points higher than that in April. The purchase price of industrial producers rose by 4.3% year-on-year, and the growth rate rose by 0.6 percentage points from April.
According to preliminary estimates, the price change of stainless steel coils in May has a 4.3% increase in profit growth compared with April.