China's industrial profits up 1.4 pct in Jan-April period

China

China's industrial profits up 1.4 pct in Jan-April period

2025-05-27 11:25 Last Updated At：20:47

Profits of China's major industrial firms increased 1.4 percent year on year in the first four months of the year, quickening by 0.6 percentage points compared to the first quarter, official data showed Tuesday.

Industrial firms with an annual main business revenue of at least 20 million yuan (about 2.78 million U.S. dollars) saw their combined profits reach nearly 2.12 trillion yuan (about 290 billion U.S. dollars) during the January-April period, according to the National Bureau of Statistics (NBS).

Meanwhile, the total operating revenue of major industrial enterprises stood at 43.44 trillion yuan (about 6.03 trillion U.S. dollars), rising 3.2 percent year on year.

In April alone, profits of major industrial firms rose 3 percent compared to a year earlier, the NBS data showed.

From January to April, profits in the equipment manufacturing industry rose by 11.2 percent year on year, quickening by 4.8 percentage points compared to the January-March period. This surge contributed 3.6 percentage points to the overall growth in profits for major industrial enterprises. Industries such as instruments, electrical machinery, and general equipment all reported double-digit profit growth.

During the same period, profits in high-tech manufacturing increased by 9 percent year on year, up by 5.5 percentage points from the first quarter. Profits in the manufacturing of semiconductor devices, smart in-vehicle devices, and intelligent UAVs surged by 105.1 percent, 177.4 percent, and 167.9 percent, respectively.

"Favorable factors supporting the improvement in industrial enterprise profits are steadily accumulating. High-tech manufacturing and equipment manufacturing sectors have maintained rapid growth, the industrial structure has continued to optimize, and product competitiveness has been steadily improving. These factors have provided strong support for boosting enterprise profits, laying a strong foundation for the continued positive momentum in the industrial economy," said Chen Xi, an associate research fellow at the Institute of Macroeconomic Research under the National Development and Reform Commission.

Iran swears to counterattack if attacked

Iranian Parliament Speaker Mohammad Baqer Qalibaf warned on Sunday that Tehran would view the United States and Israel's military bases and facilities in the Middle East as "legitimate targets" should Washington take military action against Iran.

At a parliamentary session convened to review an emergency proposal on assembly regulations, Qalibaf emphasized that, at this highly sensitive juncture, Iran must accurately and thoroughly identify the schemes of its adversaries.

Qalibaf said that Iran is currently confronting Israel and the United States simultaneously on four fronts: economic, cognitive, military, and counterterrorism. Of them, the economic warfare and the cognitive and psychological warfare began many years ago and have persisted to this day, growing increasingly complex and intense in recent years.

The remarks came as U.S. President Donald Trump is reportedly "seriously considering authorizing a strike" against Iran, taking advantage of its nationwide unrest.

Protests have erupted in several Iranian cities since late December over the sharp fall of the rial and long-standing economic hardship. Iranian authorities have acknowledged the demonstrations and voiced willingness to address economic grievances, while warning against violence and vandalism.

Amid the ongoing protests, deadly clashes have been reported lately between police and what the government described as "rioters." However, no official death toll has been released.

Also on Sunday, Iran's semi-official Tasnim news agency reported that Iranian President Masoud Pezeshkian will address the country's economic situation and political environment in a televised interview later that day.