Profits of China's industrial companies of national or above scale increased 4.3% year-on-year - Chinese report

On the 27th, the National Bureau of Statistics of China announced that the total profits of industrial enterprises with national-level or larger revenues (enterprises with annual main operating revenues of 20 million yen or more) in the first quarter had increased from the same period last year.
According to data from the National Bureau of Statistics, the total profits of industrial enterprises nationwide and above in the first quarter was 1.50553 trillion yen (about 33 trillion yen), up 4.3% from the same period last year.
In addition, operating revenue was 30.96 trillion yen (approximately 667 trillion yen), up 2.3% from the same period last year. As the implementation of macro policies has been strengthened, market demand has gradually improved, leading to a recovery and improvement in industrial production.
In the first quarter, the profits of industrial companies with a national or higher ranking maintained an upward trend, and operating income is on the road to recovery. Nearly 70% of the industry saw an increase in profits. By sector, the profits of the manufacturing industry increased by 1.2% from last year.
Profits in high-tech manufacturing increased sharply, turning around a decline from the previous fiscal year to a 7.9% increase in the first quarter compared to the same period a year earlier.
In addition, the expansion of domestic demand and the implementation of policies to promote consumption led to increased consumer demand, which led to a high rate of increase in profits in the consumer goods manufacturing industry.
This turned from a decrease to an increase of 10.9% compared to the same period last year.