China's industrial profits surge 15.7% in Jan-Aug 2024, led by mining and manufacturing
China's National Bureau of Statistics reported that industrial profits above a designated size rose 15.7% year-on-year to 5.27 trillion yuan in the first eight months of 2024. Mining profits surged 35.1% and manufacturing grew 17.4%, while utilities declined 12.0%. Revenue increased 6.6% to 93.09 trillion yuan, with the profit margin improving to 5.66%. However, accounts receivable and finished goods inventories rose, indicating potential cash flow pressures.
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China's industrial profits rise 15.7% in first eight months of 2026
According to data from China's National Bureau of Statistics, profits at industrial enterprises above a designated size grew 15.7% year-on-year to 5.27 trillion yuan in the first eight months of 2026. State-owned enterprises saw a 10.3% profit increase, while private enterprises rose 10.4%. By sector, mining profits surged 35.1%, manufacturing grew 17.4%, but utilities declined 12.0%. Notable industry performers included computer and electronics manufacturing (up 110%), non-ferrous metals smelting (up 82.9%), and coal mining (up 51.6%). Conversely, ferrous metals smelting fell 62.4%, non-metallic minerals dropped 46.7%, and auto manufacturing declined 16.0%. Revenue rose 6.6% to 93.09 trillion yuan, with operating costs increasing 6.1%. The profit margin improved to 5.66%, up 0.44 percentage points. Accounts receivable grew 9.0% to 29.48 trillion yuan, and finished goods inventories rose 11.0% to 7.36 trillion yuan. In August alone, industrial profits increased 4.2% year-on-year.
Read sourceChina's Industrial Profits Rise 15.7% in First Eight Months of 2026, NBS Data Shows
According to data from China's National Bureau of Statistics (NBS), industrial profits at China's major enterprises grew 15.7% year-on-year in the first eight months of 2026, reaching 5.27 trillion yuan. State-owned enterprises saw a 10.3% profit increase, while private enterprises grew 10.4%. By sector, mining profits surged 35.1%, manufacturing rose 17.4%, but utilities declined 12.0%. Notable industry-level performances include computer and electronics manufacturing (up 110%), non-ferrous metals smelting (up 82.9%), and coal mining (up 51.6%). Conversely, black metal smelting fell 62.4%, non-metallic mineral products dropped 46.7%, and auto manufacturing declined 16.0%. Revenue rose 6.6% to 93.09 trillion yuan, with operating costs up 6.1%. The profit margin improved to 5.66%. By end of August, total assets of industrial enterprises stood at 197.33 trillion yuan, up 6.4%, while liabilities grew 7.0% to 115.44 trillion yuan. The data reflects mixed performance across industries, with high-tech and resource sectors outperforming traditional manufacturing.
Read sourceChina's Industrial Firms Revenue Up 6.6%, Profit Up 15.7% in Jan-Aug, NBS Data Shows
According to data released by China's National Bureau of Statistics (NBS) on September 28, the revenue of industrial enterprises above a designated size rose 6.6% year-on-year in the first eight months of 2024, driven by steady industrial production and expanding industrial product price increases. This revenue growth contributed to a 15.7% increase in profits for these enterprises, maintaining double-digit growth for the cumulative period this year. By sector, mining industry profits surged 35.1%, manufacturing profits grew 17.4%, while profits in the electricity, heat, gas, and water production and supply sector fell 12.0%. In August alone, profit growth for these enterprises slowed to 4.2% year-on-year, affected by a high base in the same period last year. However, gross profit, calculated as revenue minus operating costs, grew 7.5% in August, accelerating by 1.9 percentage points from the previous month.
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China's Industrial Profits Rise 15.7% in First Eight Months of 2024, NBS Data Shows
According to data released by China's National Bureau of Statistics (NBS), industrial profits at China's scale-up enterprises increased by 15.7% year-on-year in the first eight months of 2024, reaching 5.27 trillion yuan. State-owned enterprises saw a 10.3% profit increase, while private enterprises reported a 10.4% rise. By sector, mining profits surged 35.1%, manufacturing grew 17.4%, but utilities declined 12.0%. Notable industry-level performances include computer and electronics manufacturing (up 110%), non-ferrous metals (up 82.9%), and coal mining (up 51.6%), while ferrous metal smelting fell 62.4% and auto manufacturing dropped 16.0%. The data also showed that revenue rose 6.6% to 93.09 trillion yuan, with the profit margin improving to 5.66%. However, accounts receivable grew 9.0% and finished goods inventory increased 11.0%, indicating potential cash flow pressures. The NBS noted that the growth rates are calculated on a comparable basis, adjusting for annual survey scope changes and statistical enforcement.
Read sourceChina's industrial profits rise 15.7% in first eight months of 2024, NBS data shows
According to data released by China's National Bureau of Statistics (NBS) and reported by East Money, profits of China's industrial enterprises above a designated size totaled 5.27198 trillion yuan in the first eight months of 2024, a year-on-year increase of 15.7% on a comparable basis. The growth was led by the mining sector (up 35.1%) and manufacturing (up 17.4%), while the power, heat production, and supply industry saw a 15.1% decline. Among ownership types, state-owned enterprises saw a 10.3% profit increase, private enterprises 10.4%, and foreign-invested enterprises only 2.3%. Revenue rose 6.6% to 93.09 trillion yuan, with costs growing slower at 6.1%, improving the profit margin to 5.66%. However, accounts receivable increased 9.0% to 29.48 trillion yuan, and finished goods inventory rose 11.0% to 7.36 trillion yuan, indicating potential cash flow and demand challenges. The data is based on a monthly survey of industrial enterprises with annual main business revenue of 20 million yuan or more, following the national economic industry classification standard (GB/T 4754-2017).
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