Guangzhou (JLC), May 27, 2024--Profits of China's major industrial firms increased 4.3% year on year in the first four months of this year, data from the National Bureau of Statistics (NBS) showed Monday.
The growth rate was the same with that registered in the first quarter.
Industrial firms with an annual main business revenue of at least 20 million yuan (about 2.81 million US dollars) saw their combined profits reach 2.09 trillion yuan during January-April.
Specifically, China reaped profits of 1.44 trillion yuan from the manufacturing industry and 258.32 billion yuan in the electricity, heat, gas and water production and supply industry in the four months, up 8.0% and 36.9% from a year before, the NBS data indicated. On the contrary, profits from the mining industry fell 18.6% to 392.39 billion yuan.
In April alone, the country’s industrial profits rose by 4.0% year on year, reversing a 3.5% drop in March, the NBS data also showed.
