The combined profit of China's major industrial companies for the January-June 2024 period rose 3.5 per cent year-on-year to 3.511 trillion yuan ($484 billion), the State Statistics Service (SSO) said in a report.
It considers industrial enterprises with annual revenues above 20 million yuan ($2.75 million) as large.
Earnings of state-owned companies rose 0.3 per cent, while earnings of private companies rose 6.8 per cent.
Profit growth in the first half of the year was reported in the production of non-ferrous metals (+78.2%), the production of computers, communication and other electronic equipment (+24%), the textile industry (+19.3%) and agriculture and food production (+19.2 %).
At the same time, the profits of coal mining enterprises decreased by 24.8%, and the profits of machinery equipment manufacturers - by 8%.
In June, the total profit of China's large industrial enterprises rose by 3.6% compared to the same month a year earlier. In May, this indicator increased by 0.7%. | BGNES
