Major Chinese industrial firms saw profits climb 3.4% year-on-year from January to May, according to the National Bureau of Statistics (NBS). While growth slightly slowed compared to the first four months, momentum accelerated for the second consecutive month, hinting at a resilient recovery.
Equipment Manufacturing Sector Shines
The standout performer? Equipment manufacturing, which surged 11.5%—nearly double the overall industrial growth rate. This sector alone contributed significantly to the 2.75 trillion yuan ($387 billion) total profits for large industrial enterprises.
32 of 41 Sectors in the Green
Over 78% of monitored industries reported profit growth, signaling broad-based improvement. NBS statistician Yu Weining highlighted China’s focus on boosting innovation and demand to sustain this upward trend. Experts say new industrialization strategies and 'new quality productive forces' could fuel further gains.
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This sector alone contributed significantly to the 2.75 trillion yuan ($387 billion) total profits for large industrial enterprises.
