China's major industrial companies posted a combined profit of 911 billion yuan ($125.4 billion) in January and February, down 0.3 percent year-on-year, narrowing 3.0 percentage points from a year earlier, as industrial enterprises' profit shows stable recovery thanks to strong government policy support, official data showed on Thursday.
According to data released by the National Bureau of Statistics (NBS), the revenue of major industrial enterprises grew by 2.8 percent year-on-year in the first two months of 2025, 0.7 percentage points faster than a year earlier.
"Overall, industrial enterprises' profit showed improvement in the first two months," NBS statistician Yu Weining said in an article on the NBS website, attributing the improvement to the implementation of policy measures.
Large-scale equipment upgrades and trade-in programs boosted sector performance, with profits in general equipment rising 6.0 percent and special equipment up 5.9 percent year-on-year, Yu noted.
Expanded trade-in incentives and diversified consumption channels lifted industry performance, Yu said. while driven by subsidies for trade-ins of old passenger vehicles, profits in the automobile manufacturing industry grew by 11.7 percent year-on-year.
Under the expanding coverage of the government's trade-in policies for electronic goods and home appliances, intelligent consumer equipment manufacturing, household kitchen appliance manufacturing, and household refrigeration appliance manufacturing sectors achieved profit increases of 125.5 percent, 19.9 percent, and 19.2 percent year-on-year, respectively.
Moving forward, Yu called for continued efforts to ramp up domestic demand, boost the development of new quality productive forces, and promote the recovery of manufacturers' profits.
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