Hey everyone! 📊 Good news from the Chinese mainland’s factory floors: industrial profits are getting healthier. In July, profits of major industrial firms fell by just 1.5% year-on-year, improving for the second straight month.
That’s a 2.8 percentage point improvement from June’s drop, pointing to a steady recovery. From January to July, overall profits declined 1.7%, but the pace of decline slowed compared to the first half of the year.
Meanwhile, total revenue for these big players hit 78.07 trillion yuan (about $10.9 trillion), marking a 2.3% increase. Total profits reached 4.02 trillion yuan—the kind of numbers that show some real stamina in tough times. 💪
The real star? High-tech manufacturing. 🚀 In July, profits in this segment jumped 18.9%, rebounding from a 0.9% dip in June. Thanks to stronger chip production and smarter factories, this slice of the industry is leading the comeback.
One shining example is the integrated circuit sector, where profit surged a mind-blowing 176.1%. This boom is driven by growing demand for semiconductors in gadgets we all love—think the latest smartphones and gaming rigs popular across South and Southeast Asia.
Other tech-heavy areas are on fire too:
- Electronic and electrical machinery specialized equipment saw profits up 87.9% in July.
- Computer manufacturing profits skyrocketed 124.2% year-on-year. 💻⚙️
According to Yu Weining from the NBS, stable industrial production and new policies aimed at nudging up price levels are helping firms turn the corner. ⚖️ More policy boosts—like incentives for large-scale equipment renewal and consumer goods trade-in—are adding fuel to the recovery fire.
Bottom line: If you’re into tech or just curious about how global supply chains are bouncing back, the Chinese mainland’s factory scene is a must-watch. With high-tech manufacturing in the driver’s seat, we could see more cool gadgets hit the market and maybe even more job opportunities for young pros like you! 🔍👩💻👨💻
Reference(s):
China's industrial profits decline narrows for 2nd consecutive month
cgtn.com
