Xinhua News Agency, May 28, Huatai Securities Research report pointed out that on May 27, the National Bureau of Statistics released financial data for industrial enterprises in April 2023. Overall profits of industrial enterprises fell 18.2 per cent in April, slightly narrowing from 19.2 per cent in March, while revenue growth recorded 3.8 per cent, up from 0.8 per cent in March. Although the year-on-year decline in corporate earnings has narrowed, showing marginal improvement, the two-year compound growth rate shows that earnings growth still needs to be repaired, and the pressure of corporate destocking is still a drag. There is still a need for fiscal and monetary policy to further expand support to assist industrial companies in terms of profitability and balance sheet repair.