Profits for China's major industrial firms see 3.6 percent increase in January-July period

(MENAFN) Profits for China's major industrial firms experienced a 3.6 percent year-on-year increase in the first seven months of this year, as reported by the National Bureau of Statistics (NBS) on Tuesday. This growth rate has slightly accelerated from the 3.5 percent increase observed during the first half of the year, reflecting a modest improvement in the profitability of these firms.

The combined profits of industrial firms with an annual main business revenue of at least 20 million yuan (approximately 2.81 million U.S. dollars) reached 4.099 trillion yuan over this seven-month period. This substantial figure highlights the significant role these firms play in the overall industrial sector and underscores their economic impact.

In July alone, the profits of major industrial firms increased by 4.1 percent compared to the same month last year. This single-month performance further demonstrates a positive trend and suggests a continuation of growth in the industrial sector.

The NBS data indicates a steady improvement in profitability, with the July figures showing a stronger increase than the average for the preceding months. This trend may provide a favorable outlook for the remainder of the year as the industrial sector adapts to economic conditions and market demands.

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