The combined business revenue of China’s major industrial firms went up 2.8 per cent year-on-year between January and February, the country’s National Bureau of Statistics (NBS) says.
NBS statistician Yu Weining, said on Thursday, that the figure represented 0.7 percentage points faster than the 2024 whole year growth rate.
He said that industrial firms with annual business revenue of at least 20 million yuan (about 2.79 million dollars) saw their combined profits reach 910.99 billion yuan during this period.
Weining said that the first two months of the year, China’s manufacturing sector reported a total profit of 639.51 billion yuan, a year-on-year increase of 4.8 per cent.
The statistician said that electricity, heat, gas, and water production and supply companies achieved a total profit of 130.45 billion yuan, increasing by 13.5 per cent year-on-year.
According to him, industrial enterprises continued to see a sustained growth in revenue in the first two months of 2025, creating favourable conditions for the recovery of corporate profits.
“Driven by supportive policies related to large scale equipment upgrades and trade-in of consumer goods, profitability in certain industries was improved in the first two months of the year.
“Total profit of the equipment manufacturing industry went up 5.4 per cent during the January to February period, reversing a 0.2 per cent drop in 2024, while that of the raw materials manufacturing sector increased by 15.3 per cent, reversing a 22.9 per cent decline last year,’’ he said.
However, Weining said that some industrial enterprises still faced challenges in terms of production and operation, as the external environment was becoming increasingly complex.
He said the mining industry reported a total profit of 141.03 billion yuan during the period, a year-on-year decrease of 25.2 per cent.
He said that efforts would be made to elevate domestic consumption and strengthen innovation to boost the profit recovery of those firms.
