China's steel industry in slow recovery (3)

Sharp rebound in tax revenue

In the fourth quarter, being affected by the sales recovery, the reversal of profitability and other factors, tax growth rate of the steel industry rebounded remarkably. After a preliminary seasonal adjustment, total taxes of the steel industry in the fourth quarter was RMB35.77 billion Yuan, with a year-on-year growth of 31.5 percent, and it decreased by 22.7 percent year on year in the last quarter; the growth rate was 52.5 percent quarter to quarter, and the decreasing rate of the previous quarter was 11.0 percent quarter to quarter.

The remittance status has not yet improved.

In the fourth quarter, the accounts receivable of the steel industry was RMB245.01 billion Yuan, with a year-on-year growth of 10.2 percent, and the year-on-year growth rate declined 3.7 points compared with the previous quarter. The turnover days of accounts receivable increased to 12.9 days in this quarter from 12.5 days in the previous quarter and the overdue obligations of the steel industry has not yet improved.

Investment switched to decline from increase

After a preliminary seasonal adjustment, the total investment in fixed assets of the steel industry in the fourth quarter was RMB102.9 billion Yuan, with a year-on-year decrease of 7.9 percent, and the year-on-year growth of the previous quarter was 7.4 percent; it decreased by 19.2 percent quarter to quarter.

Employment met a moderate growth

In the fourth quarter, the number of employees of the steel industry was 331.9 million, with an increase of 56,000 employees compared with the previous quarter; the number of employees increased by 1.5 percent year on year, and the year-on-year growth rate increased 0.4 points compared with the previous quarter. The moderate growth of the employees indicated that the operation of the steel industry was improving and the confidence has been enhanced with the recovery of the steel market demand.