The profits of large industrial companies in China recorded an annual increase of 10.2%, to 914.06 billion yuan (almost 130 billion dollars) in the first two months of 2024, strengthening a recovery trend after the 2.3% contraction recorded throughout 2023 thanks to the measures to support the economy wanted by Beijing.
According to data released by the National Statistics Office, public companies recorded an increase of 0.5% in the period (from -3.4% in 2023), while private companies recorded a jump of 12.7% (from +2%) .
The computer, telecommunications and other electronic equipment sectors saw profits rebound by 210.9%.
Instead, the coal mining sectors experienced a slowdown of 36.8%, the same as that experienced by the non-mining industrial sectors.
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