China's industrial firms see 10.2% profit growth in early 2024

Source:China Sport ShowRelease time:01-Apr-2024Clicks:

Article From：fibre2fashion

China's major industrial enterprises have reported a notable 10.2 per cent increase in profits for the first two months of 2024, according to the latest data from the National Bureau of Statistics (NBS). This positive shift comes after a challenging period in 2023, where these firms experienced a 2.3 per cent dip in profits.

The growth has been recorded across companies generating a minimum annual revenue of 20 million yuan (approximately $2.82 million), with their total profits surging to 914.06 billion yuan ($approximately $126.48 billion) in the early part of the year.

Out of the 41 industrial sectors monitored, 29 have shown profit increments, as per the NBS.

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