The latest data from the National Bureau of Statistics shows that from January to April 2025, industrial enterprises above designated size in China achieved a total profit of 2117.02 billion yuan, a year-on-year increase of 1.4%, continuing the positive trend since the first quarter. Industrial production accelerated its recovery in April, with monthly profits increasing by 3.0% year-on-year, a 0.4 percentage point increase from March. Driven by the precise implementation of macro policies and the continuous promotion of industrial upgrading, the industrial economy has shown strong resilience, the profit structure continues to optimize, and the contribution of new energy industries has significantly increased. Yu Weining, a statistician of the Industry Department of the National Bureau of Statistics, said that in the first four months, relevant departments in all regions and regions had made full use of the super long term special treasury bond funds to promote the "two new" expansion policy to continue to work. Driven by policies related to large-scale equipment updates, the specialized equipment and general equipment industries collectively contributed to a 0.9 percentage point increase in profits for industries above designated size. The policy of exchanging old for new consumer goods has had a significant impact on expanding the market, with profits in industries such as the manufacturing of specialized accessories for household electrical appliances, the manufacturing of household kitchen appliances, and the manufacturing of non electric household appliances increasing by 17.2%, 17.1%, and 15.1%, respectively. Li Zhan, an economist from the Research Department of China Merchants Fund, stated that against the backdrop of the "two new" policies, the equipment manufacturing industry has shown outstanding performance, with industrial production maintaining rapid growth and production manufacturing maintaining a strong momentum. A series of expansion measures, such as the re lending of science and technology innovation and the issuance of science and technology innovation bonds in the bond market, have maintained a high level of investment growth in the manufacturing industry, especially in high-end manufacturing. Li Zhan reminded that the current supply and demand structure, especially in terms of domestic demand, still needs improvement, and the industrial production and sales rate is at a historically low level during the same period. In this context, the timely strengthening of domestic demand expansion policies is worth looking forward to. Zhu Hualei, Senior Investment Advisor at Jufeng Investment Consulting, stated that in terms of industry development, the new energy industry has shown outstanding performance. The equipment manufacturing industry led the growth, with a year-on-year increase of 11.2% in equipment manufacturing profits, accelerating by 4.8 percentage points from January to March, and driving a 3.6 percentage point increase in profits for all industrial enterprises above designated size. Among them, industries such as instrumentation, electrical machinery, general equipment, and electronics saw significant profit growth, reaching 22.0%, 15.4%, 11.7%, and 11.6% respectively. This indicates that the leading role of equipment manufacturing in the industrial economy is constantly increasing, and the effects of industrial upgrading and technological innovation are gradually emerging. The profit of high-tech manufacturing industry increased by 9.0% year-on-year, showing strong growth. Compared with the period from January to March, the growth rate has accelerated by 5.5 percentage points, which is 7.6 percentage points higher than the average level of all industries above designated size. Especially in industries such as biopharmaceutical manufacturing and aircraft manufacturing, profits have grown rapidly, reaching 24.3% and 27.0% respectively. In addition, industries related to "artificial intelligence+" such as semiconductor device specialized equipment manufacturing, electronic circuit manufacturing, and integrated circuit manufacturing saw profit growth of 105.1%, 43.1%, and 42.2%, respectively. Intelligent products helped with the digital transformation, and related industries saw significant profit growth. Cheng Shi, Chief Economist of ICBC International, stated that in the medium to long term, it is still necessary to pay attention to the close integration of industry and consumption, promote the industrialization of technological achievements from the laboratory, and extend from the supply side to the end demand market. In this process, resource allocation can prioritize areas with strong sustainability and closely related to people's livelihood needs, adhere to the development path of mutual promotion between technology application and scenario implementation, and encourage enterprises to expand towards high value-added and high-quality terminals. Through the guidance of fiscal funds, support of financial resources, and exploration of market space, we will work together to promote the sustainable and efficient development of emerging industries. While stabilizing economic growth, we will provide strong support for cultivating new quality productivity and building a modern industrial system. (New Society)