BEIJING, May 27 (Xinhua) – Profits of China’s leading industrial enterprises experienced accelerated growth during the first four months of this year as the country’s economic recovery accelerates, data show officers.
Industrial enterprises with annual commercial income of at least 20 million yuan (about US $ 3.12 million) saw their combined profits increase 106% year-on-year during the January-April period to more than 2, 59 trillion yuan, according to data from the National Bureau of Statistics (NBS) showed.
Compared to the first four months of 2019, the figure represented an increase of 49.6 percent. The average growth rate for the past two years stood at 22.3 percent, according to NBS data.
Accelerated growth in industrial profits occurred as market demand continued to improve and major industrial companies improved their performance since the beginning of this year, said Zhu Hong, chief statistician at NBS.