China's economy stabilized as industrial profits grew by 10% in January-February

Posted on April 1, 2024   |  

China's industrial sector witnessed a significant 10.2% profit surge in the first two months of 2024, indicating a strengthening economic recovery.

Following a 2.3% profit decline throughout 2023, industrial profits in China rose by 10.2% compared to the same period last year.

Despite the industrial sector's robust performance, the property market continues to face challenges, reflecting a nuanced economic rebound.

Deputy central bank officials have assured markets of available policy options, including potential cuts in banks' reserve requirement ratios (RRR), to address ongoing economic vulnerabilities.

State-owned companies experienced a modest 0.5% increase in earnings during January-February, while foreign firms saw a notable 31.2% gain, and private-sector entities recorded a solid 12.7% rise.

Amidst mixed economic signals, China's industrial sector remains a bright spot, contributing to the overall momentum of the country's economic recovery.