China's major industrial firms reported a robust total profit of 3.51 trillion yuan ($484.1 billion) in the first half of 2024, reflecting a year-on-year growth of 3.5 percent, according to data released by the National Bureau of Statistics (NBS) on Saturday.
This half-year growth rate surpasses the January to May period by 0.1 percentage points, signaling an upward trend in industrial profitability.
June saw particularly strong performance, with profits of industrial enterprises generating at least 20 million yuan in annual main business revenue increasing by 3.6 percent. This marks a significant rise of 2.9 percentage points compared to May.
Yu Weining, a statistician from the NBS's industrial department, emphasized that the growth rate of industrial enterprise profits is accelerating and demonstrating a steady recovery.
Reference(s):
cgtn.com
