China's Industrial Profits Rise 24.7% in April, Largest Increase in 2.5 Years

TAIPEI (CNA) - China's National Bureau of Statistics announced today that profits for industrial enterprises above designated size rose 24.7% year-on-year in April, the highest level since November 2023. According to the bureau's website, total profits for industrial enterprises from January to April reached approximately 2.43 trillion yuan (about 11.2 trillion NTD), an increase of 18.2% year-on-year, accelerating by 2.7 percentage points compared to the January-March period. From January to April, profits of state-controlled enterprises reached 827.15 billion yuan, up 17.1%; joint-stock enterprises reached 1.8 trillion yuan, up 24.0%; foreign, Hong Kong, Macao, and Taiwan-invested enterprises reached 542.24 billion yuan, up 2.3%; and private enterprises reached 651.14 billion yuan, up 23.7%. Yu Weining, chief statistician at the Industrial Department of the National Bureau of Statistics, stated that while profits grew rapidly, the external environment remains complex and volatile. The contradiction of strong supply and weak demand in the domestic market remains prominent, and some enterprises face operational difficulties. In the next phase, it is necessary to strengthen macroeconomic policy adjustments, continue to expand domestic demand, optimize supply, and further strengthen the domestic economic cycle to promote healthy industrial development. Industrial enterprises above designated size are defined as industrial legal entities with annual main business revenue of 20 million yuan or more.