China’s industrial profits nearly doubled on year in March, raw material sector’s profits surged amid rising commodity prices, recovering demand
China’s industrial profits nearly doubled on year in March, raw material sector’s profits surged amid rising commodity prices, recovering demand

China’s industrial profits nearly doubled on year in March, raw material sector’s profits surged amid rising commodity prices, recovering demand

 

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Profits at China's industrial companies nearly doubled in March from a year ago, as demand for raw materials surged maid the economic recovery.

Profits increased to 711.18 billion yuan ($109.66 billion) last month, surging 92.3 per cent from a year earlier, when the economy was hard hit by the COVID-19 crisis, according to data released by the National Bureau of Statistics (NBS) on Tuesday.

The pace of growth slowed from the first two months of the year. Profits grew 179 per cent in January-February compared with the same period . . .

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