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Industrial Output Value of SMEs above a Designated Scale up by 8.4% in Q1
updated on:2019-05-10 16:03

Production of SMEs above a designated scale in Jiangsu made a stable progress in the first quarter of the year. The total industrial output value of SMEs above a designated scale increased by 8.4% over the previous period, 3.4 percentage points higher than the growth rate of total output value made by industries above a designated scale. Of all the industries above a designated scale, business turnover of SMEs contributed to 61.1% of all, up by 8.1% over the previous period, and 2.6 percentage points higher than the growth rate of all business turnover by industries above a designated scale.

By the end of March, the number of SMEs above a designated scale has reached 43,899, making up 97.6% of all industries above a designated scale. During the first quarter, SMEs above a designated scale contributed 59.1% to the total profit made by industries above a designated scale, up by 4.3% year-on-year, and 11 percentage points higher than the growth rate of total profit made by industries above a designated scale. Corporate scale of losses stood at 26.1%, down by 2.1 percentage points compared with that in January and February, up by 2.1 percentage points over the previous period, and the amount of loss increased by 8.7%.  

Take a closer look at the sectors. Amongst the 31 major manufacturing sectors, the first quarter saw over 10% of growth in business turnover in 15 sectors, among which building materials grew by 19%, pharmaceuticals 12.7%, and metallurgy 12.5%. Electron industry took the lead in profitability, with 38.1% of increase in total profit, 52.8 percentage points higher over the previous period. Yet metallurgy, petrochemical, light industry and textile witnessed slight drop in profit over the previous period.

Let us turn to the private sector. By the end of the first quarter, the number of private SMEs above a designated scale has hit 34,242, accounting for 78% of all the SMEs above a designated scale, and 0.2 percentage point higher over the previous period. These private SMEs contributed 63.3% and 56.5% to business turnover and profit made by all SMEs above a designated scale, up by 10.6% and 5.8%, respectively. 

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