Beijing: Profits of China's major industrial firms grew 1.9 percent year on year in the first 10 months of 2025, extending a recovery that has continued for three consecutive months since August, official data showed on Thursday. Industrial firms with an annual main business revenue of at least 20 million yuan (about 2.8 million U.S. dollars) saw their combined profits total 5.95 trillion yuan during the January-October period, according to the National Bureau of Statistics (NBS).
According to Namibia Press Agency, NBS statistician Yu Weining attributed the improvement to efforts to strengthen domestic circulation and improve the interplay between domestic and international flow. This strategy helped stabilize industrial profit growth and advance industrial development. Industrial revenues continued to expand, with major firms reporting a 1.8-percent rise in operating revenue during this period, creating favorable conditions for profit recovery.
During the January-October period, profits in the equipment manufacturing sector rose 7.8 percent year on year, contributing 38.5 percent of the total profits of all major industrial firms. Among this sector's eight major categories, seven reported profit increases. Noteworthy gains were seen in the railway, ship and aerospace sector, as well as the electronics sector, which recorded double-digit gains of 32 percent and 12.8 percent, respectively. Electrical machinery, general equipment, and special equipment producers also reported increases.
High-tech manufacturing maintained momentum, with profits up 8 percent year on year. Notably, the intelligent electronics manufacturing field expanded, with profits in unmanned aerial vehicle manufacturing and intelligent in-vehicle equipment manufacturing surging by 116.1 percent and 114.9 percent, respectively. Traditional industries also showed improved performance. In the raw materials sector, profits of graphite and carbon products manufacturing, as well as biochemical pesticide and microbial pesticide manufacturing, grew by over 70 percent. In the chemical fiber, rubber, and plastics sectors, bio-based chemical fiber manufacturers and recycled rubber producers outperformed the broader sector.
Looking ahead, Yu stated that coordinated policy measures will be advanced to expand domestic demand, optimize industrial structure, and foster new growth drivers to invigorate the industrial sector and consolidate the foundation of the real economy. The Chinese economy has demonstrated resilience despite headwinds as it enters the final quarter of 2025, staying on track to achieve its full-year development goals. Key indicators released earlier this month reflected continued economic momentum, with retail sales of consumer goods growing 4.3 percent year on year, and total imports and exports expanding by 3.6 percent. In October, the consumer price index reversed a previous decline to rise by 0.2 percent.