China's industrial output is recovering gradually from the COVID-19 disruptions. Latest data from the country's statistics bureau show profits of China's major industrial firms rose 1% on a yearly basis in the first half of the year. Industrial enterprises saw their combined profits exceed 4.27 trillion yuan, (about $630 billion) during the period. In June, industrial profits rose 0.8% on a yearly basis compared with a 6.5% slump in May. Wang Dan, Chief Economist of Hang Seng Bank (China), said China's manufacturing and supply chain have regained momentum after the relaxation of COVID-19 restrictions in June. She attributes the recent recovery to strong overseas demand and improved efficiencies realized through cost-cutting efforts of domestic manufacturing enterprises.