The total revenue of China’s major industrial enterprises saw a 2.8% year-on-year increase between January and February, according to the National Bureau of Statistics (NBS).
Yu Weining, a statistician at NBS, stated on Thursday that this growth rate was 0.7 percentage points higher than the overall increase recorded in 2024.
He noted that industrial firms generating annual revenues of at least 20 million yuan (approximately 2.79 million dollars) collectively posted profits of 910.99 billion yuan during this period.
China’s manufacturing sector recorded a total profit of 639.51 billion yuan in the first two months of 2025, reflecting a 4.8% year-on-year rise. Meanwhile, companies involved in electricity, heat, gas, and water production and supply reported a total profit of 130.45 billion yuan, marking a 13.5% increase compared to the previous year.
Yu highlighted that industrial enterprises continued to experience stable revenue growth, creating favorable conditions for profit recovery.
“Driven by supportive policies related to large-scale equipment upgrades and the trade-in of consumer goods, profitability in certain industries was improved in the first two months of the year.
“Total profit of the equipment manufacturing industry went up 5.4% during the January-February period, reversing a 0.2% decline in 2024, while that of the raw materials manufacturing sector increased by 15.3%, bouncing back from a 22.9% drop last year,” he explained.
Despite the gains, he acknowledged that some industrial firms continue to face operational and production challenges due to increasing external uncertainties.
The mining industry, in particular, reported a total profit of 141.03 billion yuan, representing a 25.2% year-on-year decline.
To further support recovery, Yu emphasized the need for measures to boost domestic consumption and enhance innovation in the industrial sector.
