BEIJING (AA): China’s industrial profit posted an increase in April, reversing a decline in March, according to data from the National Bureau of Statistics on Monday.
Profits at China’s industrial companies rose 4% at an annualized pace in April, compared with March’s 3.5% decrease which ended seven consecutive months of rises.
April’s uptick was led by the government’s stimulus measures which came into effect to boost the economy and a recovery in exports.
In January-April, industrial profit went up by 4.3% from a year ago to 2.09 trillion yuan ($289 billion).
State-owned industrial companies saw a 2.8% fall in profits in the 4-month period, foreign companies ran a 16.7% rise and private companies a 6.4% increase.
Profits of computer, communication and other electric equipment manufacturers soared 76% year-on-year in the first four months of 2024.
