Profit growth at China\u2019s industrial firms accelerated to a six-month high in March, as long-suppressed factory-gate prices turned positive amid disruptions from the Iran war.<\/p>\n
Total profits for China\u2019s major industrial enterprises \u2013 those with annual revenues greater than 20 million yuan (US$2.93 million) \u2013 grew by 15.8 per cent last month, the fastest rate since September, according to data released by the National Bureau of Statistics (NBS) on Monday.<\/p>\n
Profits in the first quarter reached 1.696 trillion yuan (US$248 billion), a year-on-year rise of 15.5 per cent \u2013 far above the marginal 0.8 per cent increase recorded in the same period last year, the NBS said.<\/p>\n
Within the broader figures, the manufacturing sector recorded quarterly profits of 1.24 trillion yuan, up 19.1 per cent \u2013 outpacing a 16.2 per cent increase registered by the mining sector.<\/p>\n
Rapid developments in artificial intelligence and semiconductor-related industries helped drive profits in optical-fibre manufacturing, optoelectronic-device manufacturing and display-device manufacturing up 336.8 per cent, 43 per cent and 36.3 per cent, respectively.<\/p>\n
Sector-specific data showed a significant loss-to-profit turnaround in the processing of petroleum, coal and other fuels. Meanwhile, profits in the computer, communications, and electronic-equipment manufacturing segment rose by 120 per cent, year on year.<\/p>\n","protected":false},"excerpt":{"rendered":"Profit growth at China\u2019s industrial firms accelerated to a six-month high in March, as long-suppressed factory-gate prices turned…\n","protected":false},"author":2,"featured_media":553457,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,891,10422,1294,591,101458,6875,164199,9801,190268,56,54,55,190270,190269],"class_list":{"0":"post-553456","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-china","10":"tag-david-wong","11":"tag-economy","12":"tag-europe","13":"tag-hang-seng-university-of-hong-kong","14":"tag-hong-kong","15":"tag-iran-war","16":"tag-national-bureau-of-statistics","17":"tag-pinpoint-asset-management","18":"tag-uk","19":"tag-united-kingdom","20":"tag-unitedkingdom","21":"tag-us-israel-war","22":"tag-zhang-zhiwei"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/553456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=553456"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/553456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/553457"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=553456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=553456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=553456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}