Profit Surge
Profits of China’s major industrial firms increased 10.2 percent year on year in the first two months of the year, data from the National Bureau of Statistics (NBS) showed.
The figure reversed the 2.3-percent decline registered in 2023, the NBS said.
Industrial firms with an annual main business revenue of at least 20 million yuan ($2.82 million) saw their combined profits reach 914.06 billion yuan ($128.88 billion) during the period.
Among the 41 industrial categories monitored by the bureau, 29 recorded profit growth.
The profits of the equipment manufacturing sector continued to increase rapidly in the January-February period.
The combined profits of the sector gained 28.9 percent
