China's major industrial firms' profits up 18.2% in first four months

BEIJING -- Profits of China's major industrial firms increased 18.2 percent year-on-year during the January-April period, surpassing a rise of 15.5 percent in the first quarter, official data showed Wednesday.

Industrial firms with an annual main business revenue of at least 20 million yuan ($2.93 million) saw their combined profits reach 2.44 trillion yuan in the first four months, according to the National Bureau of Statistics (NBS).

In April alone, profits of major industrial firms rose 24.7 percent compared to a year earlier, the NBS data showed.