Profits at China’s major industrial firms grew at a steady pace in the first four months of the year
as the country’s economic recovery gained further momentum, official data showed on Thursday.
China’s industrial firms with annual business revenue of at least 20 million yuan ($3.12 million)
saw their combined profits rise 106 percent on a yearly basis during the January to
April period to 2.59 trillion yuan, according to the National Bureau of Statistics.
The figures represented an annual growth of 49.6 percent when compared with 2019,
with average growth rate in the past two years coming in at 22.3 percent.
On a monthly basis, industrial profits rose by 57 percent in April to 768.63 billion yuan.
Industrial profits for the manufacturing sector grew by 114 percent on a yearly basis to 2.2 trillion yuan.
Overall, industrial profits rose steadily due to the improved demand and lower costs, the NBS said.
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