The profits of China's industrial companies above size rose 21.1 percent in May from a year earlier, according to data released by the National Bureau of Statistics on Wednesday. Profits totaled 2.72983 trillion yuan in January-May, up 16.5 percent from a year earlier, 1.5 percentage points faster than in January-April.

To do a simple arithmetic problem, is the 2.72983 trillion yuan in January-May this year more? Is it "27298.3? 29048? 1? 16.5%"? From-6% to + 16.5%, is the official data wrong?

This afternoon, the National Bureau of Statistics released an article showing that the profit data of industrial enterprises above the national scale from January to May are true, reliable and actually comparable.

The following is the full text:

A description of the profit data of Industrial Enterprises above the National scale from January to May

Industrial Department of the National Bureau of Statistics

A few days ago, the National Bureau of Statistics released the profit data of industrial enterprises above the national scale from January to May 2018, that is, the total profit from January to May was 2.72983 trillion yuan, an increase of 16.5 percent according to the comparable caliber compared with the same period last year. This data is true, reliable and practically comparable. On this basis, the year-on-year base is slightly different from KuaiBao's data released last year for the period January-May 2017. The main reasons are the change of the scope of enterprise investigation, the elimination of double counting and the divestiture of non-industrial production and management activities.

1. strengthening statistical law enforcement and further standardizing the statistical scope of industrial enterprises above the scale. In accordance with the requirements of the central government for establishing a high-quality statistical system, the National Bureau of Statistics conscientiously implements the "opinions on deepening the Reform of the Statistical Management system to improve the authenticity of Statistical data," and the "measures for dealing with the punishment of those responsible for Statistical violations of discipline and Law." We have strengthened the inspection of statistical law enforcement and eliminated enterprises that do not meet the requirements of industrial statistics above the scale. In addition, in accordance with the provisions of the system, the scope of the survey of industrial enterprises above the scale should be adjusted on a regular basis every year. Every year, some enterprises reach the scale standard to be included in the scope of the survey, while some enterprises withdraw from the scope of the survey because of their small size. there are also changes in new production enterprises, injection (crane) sales enterprises, and so on, resulting in a slight reduction in the data.

Second, strengthen data quality management, eliminate cross-regional, cross-industry duplicate statistical data. In recent years, cross-regional and cross-industry operations of enterprises have become more and more common. the statistical law enforcement inspection of the National Bureau of Statistics has found that some enterprises violate the statistical system and include subordinate cross-regional legal person enterprises in their own enterprises for statistics. As a result, the same legal person is duplicated between different regions and industries. According to the latest survey of the organizational structure of enterprises carried out by the National Bureau of Statistics, double counting of enterprise groups (companies) across regions and industries has been carried out since the fourth quarter of last year.

3. after the implementation of the "camp to increase" policy, some non-industrial production and operation activities have been spun off. Prior to the implementation of the "marketing to increase" policy, some industrial enterprises included non-industrial production and operation activities that should have paid business tax into their own financial accounts to offset the tax on write-offs. After the implementation of the "VAT" policy, service enterprises pay value-added tax (VAT) and the tax rate is low. industrial enterprises gradually spin off their internal non-industrial production and management activities and turn to the service industry, which also reduces the financial data of industrial enterprises.

It should be noted that the total profits of industrial enterprises above the scale released by the National Bureau of Statistics are consistent with the overall trend of the data of state-owned enterprises of the Ministry of Finance and the financial quarterly reports of listed companies, and reflect the actual situation of enterprises. In the January-May period, the Ministry of Finance reported that the total profits of state-owned enterprises rose 20.9% from the same period last year, while the domestic value-added tax increased by 19% from the same period last year; the net profit of A-share non-financial enterprises grew by 23.6% in the first quarter.