Cost Efficiency of Domestic Iron Ore Enterprises is Weak due to Heavy Tax Burden

From January to August, industrial enterprises above designated size nationwide achieved total profits of 5.27198 trillion yuan, up 15.7% YoY. From January to August, among industrial enterprises above designated size, state-controlled enterprises achieved total profits of 1.67599 trillion yuan, up 10.3% YoY; joint-stock enterprises achieved total profits of 4.07146 trillion yuan, up 20.4%; foreign-invested and Hong Kong, Macao, and Taiwan-invested enterprises achieved total profits of 1.17947 trillion yuan, up 2.3%; private enterprises achieved total profits of 1.32132 trillion yuan, up 10.4%. From January to August, the ferrous metal smelting and rolling processing industry achieved total profits of 29.43 billion yuan, down 62.4% YoY. From January to July, the ferrous metal smelting and rolling processing industry achieved total profits of 29.09 billion yuan. Based on this calculation, the steel industry achieved profits of 340 million yuan in August alone. In July alone, the steel industry recorded losses of 2.68 billion yuan.

According to monitoring data from the China Index Academy, as of September 24, a total of over 870 real estate-related policies had been introduced nationwide, of which more than 280 were rolled out in Q3, continuing the high-frequency policy implementation trend seen in H1. Local policies mainly focused on three directions: activating demand, optimizing supply, and urban renewal, primarily involving the optimization of restrictive policies, adjustment of housing provident fund policies, issuance of home purchase subsidies, revitalization of existing housing stock, construction of "quality housing," and the implementation of supporting policies for urban renewal.