National Bureau of Statistics: Operating income of industrial enterprises continues to grow, while the decline in profits has narrowed consecutively.

In July, the operating income of industrial enterprises above a designated size increased by 0.9% year-on-year, and increased by 2.3% from January to July. The operating income has continued to grow this year, creating favorable conditions for profit recovery for the companies. In July, the profits of industrial enterprises above a designated size decreased by 1.5% year-on-year, narrowing by 2.8 percentage points compared to June, marking a consecutive narrowing for two months. From January to July, the profit decline narrowed by 0.1 percentage points compared to the first half of the year, indicating a continued improvement in the level of profitability for the companies. From the perspective of gross profit calculated by deducting operating costs from operating income, the enterprise's gross profit in July increased by 0.1% compared to a 1.3% decline in June.