China’s industrial profits returned to growth in the first quarter, official data showed on Sunday.
Cumulative profits of industrial firms rose 0.8 percent to 1.5 trillion yuan in the first quarter from a year earlier, the National Bureau of Statistics (NBS) data showed, reversing a 0.3 percent decline in the first two months.
In March alone, profits rose 2.6 percent on-year.
Profits at state-owned firms dipped 1.4 percent in the first quarter. Private-sector companies saw a 0.3 percent fall, but foreign firms recorded a 2.8 percent gain, according to a breakdown of the NBS data.
Industrial profit numbers cover firms with annual revenue of at least 20 million yuan from their main operations. (Reuters)
