The combined profits of the country’s major industrial firms increased for a fifth straight month in December.

China’s goods exports were worth 2.06 trillion yuan in December 2023 and such imports hit 1.65 trillion yuan in the month.
The profits of major industrial firms with annual main business revenue of at least 20 million yuan rose by 16.8 per cent year on year (YoY) in the month.
Such profits reached 7.69 trillion yuan in 2023, down by 2.3 per cent YoY.

The profits of major industrial firms with annual main business revenue of at least 20 million yuan ($2.8 million) increased by 16.8 per cent year on year (YoY) during the month, according to the National Bureau of Statistics (NBS).

Such profits reached 7.69 trillion yuan in 2023, down by 2.3 per cent YoY, with the pace of decline narrowing by 2.1 percentage points from the first 11 months, a state-controlled media outlet reported.

Among 41 industrial categories, 27 recorded growth in profits.

Fibre2Fashion News Desk (DS)