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China's industrial profits up by 5% in Jan-Feb 2022

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  Profits of China's major industrial firms increased by 5 per cent year on year (YoY) in the first two months of this year, according to National Bureau of Statistics (NBS) data, which showed the growth rate went up by 0.8 percentage points from December last year.


  

  Industrial firms each with annual main business revenue of at least 20 million yuan ($3.14 million) saw their combined profits reach 1.16 trillion yuan in the two months.

  
  In January-February, the revenues of those firms went up by 13.9 per cent YoY to 19.4 trillion yuan, and 21 out of 41 industries saw growth in profits, according to official Chinese media.

  
  At the end of February, their assets totaled 142.24 trillion yuan, up by 10.4 per cent YoY. Their liabilities totaled 80.03 trillion yuan, up by 10.2 per cent. The ratio of liabilities to assets was 56.3 per cent, down by 0.1 percentage points .

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