Industrial firms in the Chinese mainland have shown resilience with profits increasing by 3.6% year-on-year from January to July, according to the latest data released by the National Bureau of Statistics (NBS) on Tuesday.
This growth rate is a marginal uplift of 0.1 percentage points compared to the first half of the year, indicating a steady expansion in the industrial sector. Companies with an annual main business revenue of at least 20 million yuan (approximately $2.81 million) reported a combined profit of 4.1 trillion yuan during this period.
July marked a significant acceleration, with profits rising by 4.1%, which is 0.5 percentage points higher than the growth observed in June. This consecutive monthly uptick underscores the strengthening performance of major industrial firms in the latter part of the first seven months.
Such consistent growth in industrial profits not only reflects the robustness of the Chinese mainland’s economy but also has positive implications for global markets, where industrial performance is a key indicator of economic health.
Reference(s):
cgtn.com
