China's industrial profits rose 4.3 percent in the first quarter of 2024, reversing a decline of 2.3 percent in 2023, government data showed on Saturday.
Fueled by companies' improved production and increased sales amid a recovery of domestic demand and policy support, in the first three months, profits of industrial enterprises above designated size totaled over 1.505 trillion yuan (about 212.04 billion U.S. dollars), marking three consecutive quarters of gain, the National Bureau of Statistics (NBS) announced.
Industrial enterprises above designated size are manufacturers with annual revenue from principal business reaching 20 million yuan or above.
Meanwhile, the business revenues of these industrial firms also rose 2.3 percent year on year, 1.2 percentage points higher than that of the whole of 2023, also achieving positive economic growth for three consecutive months, the bureau added.
Notably, manufacturing industry emerged as a top performer in the January-March period, with profits recording a year-on-year increase of 7.9 percent to around 1.017 trillion yuan (about 143.29 billion U.S dollars).
In breakdown, the profits of the high-tech manufacturing and equipment manufacturing sectors increased by 29.1 percent and 18 percent, respectively, from the growth rates registered in the previous year. During the same period, profits in the consumer goods manufacturing industry experienced a year-on-year growth of 10.9 percent, achieving double-digit growth in three consecutive quarters.
The NBS added that among the 41 industrial categories monitored by the bureau, 28 recorded year-on-year growth in profits.
China's industrial profits up 4.3 pct in first quarter
China's industrial profits up 4.3 pct in first quarter
China's industrial profits up 4.3 pct in first quarter
The International Atomic Energy Agency (IAEA) and Iran have agreed to continue cooperation and bridge differences within the framework of the relevant international agreements, according to President of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami on Tuesday.
Eslami made the statement at a joint press conference with Rafael Grossi, visiting director general of the IAEA, following their meeting earlier in the day in the central Iranian province of Isfahan.
Eslami said the IAEA should remain unaffected by external "political influence and pressures" and play a professional role.
In addition, on the sixth anniversary of the United States' withdrawal from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), Eslami once again emphasized Iran's position on the issue.
"Iran did not withdraw from the Iran nuclear deal. It was the U.S. that tore up the deal and failed to fulfill its responsibilities and did not allow other countries to cooperate on it," said Eslami.
Also speaking at the press conference, Grossi said that the IAEA has engaged in thorough and constructive discussions with Iran, charting a roadmap for future cooperation. Both sides will continue to collaborate and engage in dialogue, while earnestly addressing remaining differences, according to Grossi.
Grossi emphasized that the IAEA will fulfill its responsibilities to play a role in promoting the return of the nuclear deal to the right track.
"We need to work together in order to be in a better place, in order to put things back on track, in order to facilitate as well return to wider agreements in the form of the JCPOA or any other form that Iran may wish to agree," he said.
Grossi arrived in Iran on Monday to attend an international nuclear conference and meet a number of the country's high-ranking officials.
Iran signed the JCPOA with world powers in July 2015, accepting restrictions on its nuclear program in exchange for lifting sanctions. However, the United States withdrew from the agreement in May 2018, reinstating sanctions and prompting Iran to scale back some of its nuclear commitments.
Efforts to revive the JCPOA commenced in April 2021 in Vienna, Austria, but despite multiple rounds of negotiations, no substantial progress has been reported since the last talks in August 2022.
IAEA, Iran agree to continue cooperation, bridge differences
