China 2022-05-15T04:47:10+03:00
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China's industrial profits surge 106 pct in first four months

China's industrial profits surge 106 pct in first four months

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economy, China, PRC, Statistic, Industrial companies
Robotic arms assemble engines on an assembly line at a workshop of the Weichai Power Co., Ltd. in Weifang City, east China's Shandong Province. Photo by Xinhua/Guo Xulei.
Robotic arms assemble engines on an assembly line at a workshop of the Weichai Power Co., Ltd. in Weifang City, east China's Shandong Province. Photo by Xinhua/Guo Xulei.

Profits of China's major industrial companies saw accelerated growth in the first four months of this year as the country's economic recovery further firms up, official data showed, The Xinhua News Agency reported.

Industrial firms with an annual business revenue of at least 20 million yuan (about $3.12 million) saw their combined profits surge 106 percent year on year in the January-April period to over 2.59 trillion yuan, data from the National Bureau of Statistics (NBS) showed.

When compared with the first four months of 2019, the figure represented a rise of 49.6 percent. The average growth rate in the past two years stood at 22.3 percent, NBS data showed.

"The accelerated growth in industrial profits came as market demand continued to improve and major industrial firms saw better operation since the beginning of this year", NBS senior statistician Zhu Hong said.

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