Analysis Of The Development Trend And Characteristics Of China'S Industrial Structure Change

At present, China is at the critical stage of the pformation stage of growth. What signs and signs of long-term trend have taken place in the industrial structure? This report will study the new trends and characteristics of industrial structure changes from the aspects of sales profit rate, asset liability ratio and fixed assets investment in different sectors. P

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< p > < strong > differentiation and trend of industry sales profit < /strong > < /p >

< p > sales profit rate reflects the profitability of the industry and the sustainability of production and operation from the perspective of traffic volume.

Due to statistical reasons, the following analysis is mainly made on the changes in sales profit margins of Industrial Enterprises above designated size.

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< p > from the trend, it can be divided into three categories: < /p >

< p > the sales profit of the first class has dropped sharply in recent years, mainly in the heavy chemical industry, including coal, iron ore, chemical industry, iron and steel, nonferrous metals and other industries.

In the last cycle of prosperity from 2002 to 2007, the profit margins of these industries rose sharply, but in recent years, their profitability declined sharply, and production and operation difficulties.

From the international experience and long-term trend, the peak demand history of these industries is approaching.

Due to the massive stimulus plan in 2008, the peak demand for these industries arrived 2 to 3 years earlier than international experience.

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< p > second sales profit margins are basically stable, mainly traditional industries, including textiles, clothing, leather products, furniture, metal products, household appliances and other industries.

The peak demand history of these industries appeared in the 90s of last century. Then, by adjusting the adjustment of backward production capacity, merger and reorganization, and equipment upgrading, the industry concentration was moderate and the core competitiveness was achieved, and the profit margin remained stable for a long time, which was close to the average level of industrial enterprises.

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< p > third sales profit margins have been rising or maintained at a high level, mainly in the high-end manufacturing industry, including medicine, instrumentation, pport equipment, special equipment and other industries.

The future needs of these industries are relatively large, with high technology content and strong import substitution or export capability.

These industries are likely to grow into new leading industrial clusters.

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< p > from a horizontal comparison, the industries with low profit margins from 1 to October in 2013 were mainly heavy chemical industries, including petrochemical, steel, nonferrous metals, chemical fiber industries, computers, telecommunications and other electronic equipment manufacturing, agricultural and sideline food processing industries, and cultural, educational, labor, sports and entertainment products manufacturing and chemical industries, which were significantly lower than the average sales profit rate of industrial enterprises (5.6%).

Due to globalization, specialization and specialization, computers, telecommunications and other electronic equipment manufacturing are largely labor-intensive industries in China.

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< p > the industries with moderate sales profit rate are mainly traditional industries, including electrical, metal products, textile, textile and clothing, furniture, leather products, wood processing products, general equipment, special equipment, etc.

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< p > the industries with higher sales profit rate are mainly extractive industries and high-end manufacturing industries, including oil and natural gas exploitation, tobacco industry, liquor, beverage, tea, coloured mining, iron ore mining, medicine, gas production and supply, food manufacturing, water production industry, instrumentation, printing and recording media reproduction, etc.

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Generally speaking, the profit margins of heavy chemical industry in recent years are relatively low, and obviously decline. The sales profit margins of traditional industries are moderate and basically stable, and the profit margins of high-end manufacturing industry are relatively high, and there is an upward trend or a high level of P.

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< p > < strong > differentiation and trend of asset liability ratio < /strong > < /p >

< p > asset liability ratio reflects the sustainability of production and operation from the perspective of stock.

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< p > from the trend, it can be divided into three categories: < /p >

< p > category 1, asset liability ratio has risen sharply in recent years, mainly in the heavy chemical industry, including coal, iron ore, petrochemical, steel, nonferrous metals, electricity and other industries.

The main reason is the shrinking demand of enterprises, overcapacity and falling profits.

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< p > second categories of assets and liabilities in recent years are basically stable, mainly in traditional industries, including textiles, < a href= "http://www.91se91.com/news/index_c.asp" > clothing companies < /a >, electrical, metal products, furniture, chemical industry and other industries.

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< p > Third, asset liability ratio has dropped sharply or maintained a low level in recent years, mainly in the high-end manufacturing industry, including medicine, instrumentation, general equipment, special equipment and other industries.

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P > from the horizontal comparison, the industries with higher assets and liabilities rate from 1 to September 2013 are mainly heavy chemical industry, which are in turn: steel, petrochemical, electric power, pportation equipment manufacturing, waste resource utilization, coloured, chemical fiber, coal and so on, which are obviously higher than the average asset liability ratio (58.6%) of industrial enterprises.

< p > the industries with moderate asset liability ratio are mainly traditional industries, including electrical, paper making, chemical industry, computer, telecommunications and other electronic equipment manufacturing, gas, water, textile and so on.

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< p > the industries with low asset liability ratio are mainly monopolistic industries, extractive industries and high-end manufacturing industries. They are: tobacco, other mining, oil and gas exploitation, medicine, wood processing, wine, beverages, tea, instrumentation, food manufacturing, printing and recording media replication.

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Generally speaking, the asset liability ratio of heavy industry in recent years has been higher, and the debt ratio of traditional advantageous industries is moderate and basically stable. The asset liability ratio of high-end manufacturing industry is relatively low, and there is a downward trend or a low level of P.

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< p > < strong > differentiation and trend of industry fixed assets < a href= "http://www.91se91.com/news/index_c.asp > > investment < /a > < /strong > /p >

< p > investment indicates that the expansion or contraction of the capacity of the industry is driven by the profit outlook and is constrained by the balance of assets and liabilities.

The following analysis includes the one or two and three industries.

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< p > from the trend, it can be divided into three categories: < /p >

< p > type 1, the growth rate of fixed asset investment has dropped sharply in recent years, mainly in heavy chemical industry, including coal, iron ore, chemical industry, iron and steel, nonferrous metals, electricity and so on.

The main reasons include shrinking demand, overcapacity, declining profits and high debt ratio.

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< p > second kinds of fixed assets investment growth is basically stable, mainly in the traditional manufacturing industries and traditional residents' service industries, including textile, clothing, leather products, furniture, metal products, household appliances, accommodation, catering and other industries.

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< p > third kinds of fixed assets investment growth rate has been rising or maintained at a high level, mainly in high-end manufacturing and modern service industries, including medicine, environmental protection, cultural and sports, leasing and business services, wholesale and retail, public facilities management, etc.

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From the horizontal comparison, the growth rate of fixed asset investment in 2013 from 1 to September was mainly in the heavy chemical industry and traditional residents' service industry. In turn, public management and social organizations, construction, coal, steel, electrical, water pportation, finance, instrumentation, railway pportation, iron ore mining, residential services, electricity and so on, the growth rate was below 15%, significantly lower than the fixed asset investment cumulative year-on-year growth rate (20.2%). < /p > p

< p > the industries with moderate growth in fixed assets investment are mainly traditional manufacturing industries, traditional residents' service industries, real estate, etc., including metal products, food manufacturing, printing and recording media replication, paper making, special equipment, research and technology, education, health, petrochemical, wood processing, real estate, textile, tobacco, telecommunications, nonferrous metals, accommodation, catering, etc., to maintain a growth rate of 15% to 25%.

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< p > the industries with higher fixed asset investment growth are mainly high-end manufacturing, producer services and social services, followed by recycling economy, gas, beverages, air pportation, medicine, environmental protection, leasing and business services, wholesale and retail, agriculture, forestry, animal husbandry and fishery, public facilities management, agricultural and sideline food prices, cultural and educational supplies, water conservancy, recreational and sports entertainment, etc., in recent years, the growth rate can reach about 30%.

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Generally speaking, the growth rate of fixed assets investment in heavy industry in recent years is relatively low, and the decline is obvious. The growth rate of fixed assets investment in traditional manufacturing industries, traditional residents' service industry and real estate is moderate and relatively stable, and the fixed assets investment in high-end manufacturing, producer services and social services industry is increasing at a relatively high rate and maintaining a relatively fast level. P

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< p > < strong > enlightenment and suggestion < /strong > < /p >

< p > first, there has been a clear division of profits in various industries in recent years in terms of profit, profitability, asset liability ratio and productivity investment. International experience shows that this differentiation reflects the long-term trend of the evolution of China's industrial structure, and is a common feature of catching up economies in the pition stage of growth.

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< p > Second, the pformation of growth stage in the industrial level is manifested in the adjustment of industrial structure, that is, the new leading industrial clusters represented by high-end manufacturing and modern service industries are replaced by traditional industrial clusters represented by heavy chemical industries, as well as the organizational structure optimization, regional layout adjustment and upgrading of technology and equipment of traditional industrial clusters.

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< p > Third, < a href= "http://www.91se91.com/news/index_c.asp" > industrial structure < /a > adjustment should be classified into different types of industries.

The focus of the policy is to solve the problem of overcapacity, encourage the merger and reorganization of advantageous enterprises, and promote the pfer of capacity to the central and western regions and Southeast Asia. The specific measures include strict control of new capacity, elimination and withdrawal of backward production capacity, strict local energy consumption standards, elimination of local intervention, relaxation of non-public enterprises' participation in share holding and acquisition of assets, promotion of equipment upgrading, etc. the focus of policies on new leading industrial clusters represented by high-end manufacturing and modern service industries is to encourage competition, deregulation, reduce administrative intervention, encourage innovation and promote equipment investment upgrading. Specific measures include speeding up depreciation, research and development expenses deduction, developing Internet finance, allowing private funds to set up small and medium banks, building multi-level capital market system, and strengthening intellectual property protection. The traditional industries represented by heavy chemical industry

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< p > Fourth, to clarify the main direction of China's industrial upgrading.

In the future, China's competitiveness in the world is mainly in the middle and high-end manufacturing clusters, and the development of producer services mainly serves the upgrading of high-end manufacturing industries.

Therefore, we must have a clear understanding of our future strategic competitors and partners in the international market, and we must have a clear understanding of the negotiations in the free trade area, the introduction of foreign capital and the implementation of geopolitical diplomacy.

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