China's major industrial firms see profit growth in H1 2024

China’s major industrial firms experienced a 3.5 per cent increase in profits year-on-year during the first six months of the year, as reported by the National Bureau of Statistics (NBS). This growth rate slightly improved from the 3.4 per cent increase recorded in the first five months.

Industrial companies with an annual main business revenue of at least 20 million yuan (approximately $2.81 million) collectively achieved profits totalling 3.51 trillion yuan in the first half of the year. In June alone, the profits of these key industrial firms grew by 3.6 per cent compared to the same month last year.

Fibre2Fashion News Desk (DP)