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China’s major industrial firms saw a 1 per cent increase year-on-year in profits during the first half of 2022, as per recent official data. Industrial firms whose main business revenue on a yearly basis was at least 20 million yuan found that their combined profits surpassed 4.27 trillion yuan during that time, according to China’s National Bureau of Statistics (NBS).
The combined revenue of those industries increased to 9.1 per cent from last year to 65.41 trillion yuan. Moreover, 16 out of 41 industries witnessed more profits in the period. In June, profits of big industrial companies shot up by 0.8 per cent year-on-year, undoing the declines in April and May.
China’s major industrial firms saw a 1 per cent increase year-on-year in profits during the first half of 2022, as per recently released official data. Industrial firms whose main business revenue on a yearly basis was at least 20 million yuan found that their combined profits surpassed 4.27 trillion yuan during that time, according to China’s NBS.
The economic recovery can be credited to the efficient containment of the spread of the pandemic and social and economic development as well as the effective execution of policies to stabilise the economy, Zhu Hong, a senior statistician with the NBS, was quoted as saying by the Chinese media.
Fibre2Fashion News Desk (NB)
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