China industrial profits jump 24.7% in April, fastest gain in over two years despite headwinds
China's industrial profits saw a significant increase of 24.7% in April, the highest growth rate in over two years. This rise comes despite a backdrop of slower economic growth and challenges in the real estate sector. Exports also performed well, with a 14.1% increase in April compared to the previous year.
- ▪Industrial profits in April rose by 24.7% year-on-year, the fastest growth since November 2023.
- ▪For the first four months of the year, enterprise profits increased by 18.2%.
- ▪Exports climbed 14.1% in April, while imports surged by 25.3%.
- ▪The producer price index jumped 2.8% in April, the highest increase since July 2022.
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BEIJING — China's industrial profits in April surged by 24.7% from a year earlier, according to official data released Wednesday, marking the fastest growth since November 2023.The increase accelerated from a 15.8% rise in March, according to China's biggest financial data provider Wind Information.For the first four months of the year, enterprise profits rose 18.2%, up from 15.5% growth in the first quarter.China reported slower economic growth in April, with a 4.1% increase in industrial output and a 0.2% rise in retail sales from a year ago. Fixed asset investment fell for the first four months of the year as the real estate drag steepened.Exports remained strong, climbing 14.1% in April from a year ago in U.S. dollar terms.
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