Policy space must be utilized to provide targeted support to firms

The operating revenue of China's industrial enterprises above designated size continued its growth trajectory to increase by 1.9 percent year-on-year in the first 10 months of this year, data released by the National Bureau of Statistics show.

In October, the operating income of such enterprises fell by 0.2 percent year-on-year, but the decline was 0.7 percentage points less than in September, driven by the steady growth of industrial production and the recovery of sales.

Among the 41 industrial categories, the profit growth rate of 27 industries accelerated in October compared with September, and a number of manufacturing sectors registered improvements in profits, with high-tech manufacturing registering double-digit profit growth year-on-year. In terms of industry, seven of the eight industries in equipment manufacturing saw positive profit growth or a narrower profit decline in October compared with September, and three of the five industries in raw material manufacturing and nine of the 13 industries in consumer goods manufacturing saw year-on-year profit growth pick up compared with September.