Major industrial profits up for 3rd month

By Global Times

Nov 29, 2023 12:14 am

MAJOR industrial enterprises' profits rose for a third straight month in October, showing that China's economic recovery efforts, with a mix of forceful stimulus measures, are paying off, experts told the Global Times on Monday.

From January to October, the profits of industrial companies whose annual main business revenue exceeded 20 million yuan ($2.81 million) fell 7.8 percent, narrowing by 1.2 percentage points from the first three quarters, the National Bureau of Statistics (NBS) said on Monday.

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