China’s industrial profits up 3.5% in H1 2024

BEIJING: Profits of China's major industrial firms increased 3.5 percent year-on-year (YoY) in the first six months of the year, Xinhua News Agency reported. Official data released on Saturday by the country's National Bureau of Statistics (NBS) showed that the growth rate widened from the 3.4 percent increase registered in the first five months of the year. Industrial firms with an annual main business revenue of at least CN¥20 million (about US$2.81 million) saw their combined profits reach 3.51 trillion yuan in the first half of the year. In June, profits of major industrial firms rose 3.6 percent YoY, according to the NBS. Source: Emirates News Agency