Profits for Chinese industrial firms rose 21.9% y/y to RMB 576 billion ($90.14 billion) – a six-month high – on the back of higher prices and strong demand.
The data released by China’s National Bureau of Statistics suggest that the country’s industrial sector is showing resilience in the face of persistent trade threats from the US and a tightening anti-pollution stance.
The strong April figures mark a sizable jump from the sluggish 3.1% growth in March, which the NBS attributed to the timing of Chinese New Year this year. There was also the benefit of a low base in April 2017, Reuters reports.
