(ECNS) - China's industrial profits rose at their fastest pace since November 2023 in April, driven by an export boost linked to the global artificial intelligence (AI) investment boom, according to official data.
Profits at industrial firms jumped 24.7% year-on-year in April, accelerating from a 15.8% increase in March, the National Bureau of Statistics said Wednesday. For the first four months of 2026, profits climbed 18.2%, up from 15.5% growth in the first quarter.
The stronger export performance was driven partly by rising overseas demand tied to AI-related investment and by buyers bringing forward purchases amid concerns that tensions involving the United States, Israel and Iran could further raise component costs.
Still, exports remained insufficient to offset sluggish domestic demand, particularly in China's auto sector. Electric vehicle giant BYD reported a 55.4% drop in first-quarter net profit, its steepest decline since 2020 despite overseas sales reaching a record share of total sales.
Rival Leapmotor posted record first-quarter revenue, supported by higher sales and exports, though its net loss widened from a year earlier.
(By Zhang Jiahao)
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