US economy

China's March industrial profits rise 13.9 percent year-on-year

© Reuters. A coal-burning power plant can be seen behind a factory in the city of Baotou, in China’s Inner Mongolia Autonomous Region

BEIJING (Reuters) – Profits earned by China’s industrial firms in March rose 13.9 percent from a year earlier, rebounding from four months of contraction, the National Bureau of Statistics said on Saturday.

Profits fell an average of 14 percent in the first two months of 2019 and have been contracting since November.

For the first three months of the year, industrial profits declined 3.3 percent on year to 1.3 trillion yuan, the statistics bureau said.

China’s economy grew a faster-than-expected 6.4 percent in the first quarter helped by a jump in industrial production, but it is still too early to be optimistic as analysts expect a recovery only in the second half of the year.

Liabilities of industrial firms rose 6.5 percent on an annual basis by end-March, compared with a 6.0 percent rise as of end-February.

The data covers large companies with annual revenue of more than 20 million yuan from their main operations.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.