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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
China's industrial profits soared in November due to a raft of stimulus measures in 2023.
The country's major industrial firms saw their profits surge 29.5 percent in November, compared to the same period of last year, data from the National Bureau of Statistics (NBS) showed on Wednesday.
In the first 11 months of the year, the total profits of major industrial firms with an annual main business revenue of at least 20 million yuan ($2.82 million) reached 6.98 trillion yuan, down 4.4 percent year on year. The pace of decline narrowed by 3.4 percentage points from the first 10 months.
As macro policies take effect and domestic demand gradually recovers, the rebound in industrial production has picked up and industrial firms' profit has continued to improve, NBS statistician Yu Weining said.
The analyst said he hoped to see an "optimized" mix of macro policies to prop up growth.
In the next stage, China will continue to expand domestic demand and promote new industrialization to accelerate recovery of the industrial economy, Yu added.
(Cover from CFP)