According to data from the Nanyang Municipal Bureau of Statistics in the first quarter Nanyang's industrial economy continued to recover, the production and operation of enterprises steadily improved as did operational efficiency, and profits continued their quick recovery.

The city's industrial value added above designated size increased by 24.6 percent year-on-year, total profits increased by 39.5 percent year-on-year, operating income increased by 32.5 percent year-on-year, and both production and sales achieved rapid growth, which strongly promoted the expansion of corporate profits. Among the city's 37 major industrial sectors, 19 industries achieved positive year-on-year profit growth, and the growth rate of 13 industries was higher than the city's average, accounting for 35.1 percent.

The profit of the raw material manufacturing industry increased by 2.08 times year-on-year, which drove a 33.2 percent increase in industrial profit in the first quarter. Profits in the chemical raw materials and chemical products industry increased by 77.1 percent year-on-year, and in the non-metallic mineral products industry increased by 69.6 percent year-on-year.

Profits in the equipment manufacturing and high-tech manufacturing industries increased respectively by 55.0 and 33.6 percent year-on-year.

The cost per hundred yuan of operating income of industrial enterprises above designated size decreased by 1.48 yuan year-on-year. In particular, the cost per hundred yuan of operating income in the oil and natural gas extraction industry decreased by 8.04 yuan year-on-year, in the chemical raw material and chemical product manufacturing industry decreased by 6.24 yuan, and in the non-ferrous metal smelting and rolling processing industry decreased by 5.59 yuan. The operating income profit rate of industrial enterprises above designated size was 4.0 percent, a year-on-year increase of 0.2 percent.

At the end of March, the finished product inventory turnover period was 29.2 days, a decrease of 7.0 days from the previous year and a decrease of 2.4 days from the end of February.