China's industrial profits down 0.3% in first two months

BEIJING - The combined profit of China's major industrial enterprises went down 0.3 percent year-on-year in the first two months of 2025, the National Bureau of Statistics (NBS) said on Thursday.

Industrial firms with an annual main business revenue of at least 20 million yuan ($2.79 million) saw their combined profits reach 910.99 billion yuan during this period.

In 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 percent. Electricity, heat, gas, and water production and supply companies achieved a total profit of 130.45 billion yuan, increasing by 13.5 percent year-on-year.

The mining industry reported a total profit of 141.03 billion yuan during the January-February period, a year-on-year decrease of 25.2 percent, data showed.

Meanwhile, the combined business revenue of China's major industrial firms went up 2.8 percent year-on-year in this period, 0.7 percentage points faster than the 2024 whole-year growth rate.

Industrial enterprises continued to see a sustained growth in revenue in the first two months of 2025, creating favorable conditions for the recovery of corporate profits, NBS statistician Yu Weining said.