The economic situation is not optimistic, so the downward trend can be observed from five dimensions: manufacturing, infrastructure, export, finance and real estate.
The first is a specific analysis of manufacturing industry
For example, a steel company’s profit was only 110 million in 2015, 690 million in 2016, 2.55 billion in 2017 and about 3 billion in 2018. In the traditional industry of steel, the profit growth rate has exceeded 100% in recent years. The logic behind this is that steel prices continue to rise under the influence of supply-side reforms. Therefore, steel enterprises have enjoyed a very comfortable life in recent years. This situation is unsustainable. The dividend of supply-side reform is gradually fading. Steel prices will not rise in 2018 and will face obvious downward pressure in 2019.