China economy: industrial giants see profits rise over 90 per cent in March

Profits at China’s industrial firms rose 92.3 per cent year on year in March to 711.18 billion yuan (US$109.6 billion), official data showed on Tuesday.That compared with a 179 per cent year on year surge seen in the first two months, according to the National Bureau of Statistics.The industrial profit data covers large firms with annual revenue of over 20 million yuan (US$3 million) from their main operations.In March 2020, industrial profits fell by 34.9 per cent, meaning the latest figures…

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