China’s industrial profits hold steady at 4.3% in 1st 4m

China’s major industrial firms saw a 4.3 per cent year-on-year profit growth in the first four months of 2024, Xinhua reported on Monday, citing data from the National Bureau of Statistics released. This growth rate is consistent with the first quarter.

The report also showed that industrial firms with annual revenue of at least 20 million yuan ($2.81 million) generated a total profit of 2.09 trillion yuan ($291.4 billion) from January to April.