Profits among China’s major industrial companies increased by 3.6 percent year-on-year during the first seven months of the year, as reported by the National Bureau of Statistics. This growth rate improved slightly from the 3.5 percent recorded in the June-January period.
The total profits of industrial firms with revenues of at least 20 million yuan (approximately $2.81 million) reached 4.099 trillion yuan ($575.1 billion) in the initial seven months. In July alone, profits for these major industrial companies rose by 4.1 percent compared to the same month last year.
On the fiscal front, China’s revenue saw a 2.6 percent year-on-year decline during the first seven months of the current year, according to recent official data. This decline has slowed from the 2.8 percent drop observed in the first half of the year, as noted by the Ministry of Finance. However, when accounting for factors such as favorable policies for micro, small, and medium enterprises, which created a higher comparative base last year, along with tax reductions, the January-July figures reflect a 1.2 percent increase.
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