Guangzhou (JLC), July 29, 2024—Total profits of China's major industrial firms increased 3.5% year on year in the first six months of this year, data from the National Bureau of Statistics (NBS) showed Monday.
The growth rate was 0.1 percentage points faster than that in Jan-May.
Industrial firms with an annual main business revenue of at least CNY20 million saw their combined profits hit CNY3.51 trillion during the first half of the year.
Specifically, China reaped profits of about CNY2.50 trillion from the manufacturing industry and about CNY0.40 trillion from the electricity, heat, gas and water production and supply industry in the six months, up 5.0% and 23.1% from a year before, the NBS data indicated. On the contrary, profits from the mining industry fell 10.8% to CNY0.62 trillion.
In June alone, the country’s industrial profits rose by 3.6% year on year, accelerating from 0.7% registered in May, the NBS data also showed.
