/View.info/ China’s large industrial enterprises recorded an increase in their total profits for the fifth consecutive month in December 2023, according to the official data of the National Bureau of Statistics, presented on January 27.
Profits of large industrial firms with annual core business income above 20 million yuan ($2.8 million) rose 16.8 percent year-on-year in December 2023, reaching 7.69 trillion yuan for the year.
The best-performing sectors were electricity generation and supply, heating, gas and water, with their combined earnings posting a remarkable year-on-year increase of 54.7 percent. Another well-performing sector is equipment manufacturing, with earnings there expected to increase by 4.1 per cent in 2023. Overall, among the 41 industry categories monitored by the Office for National Statistics, 27 saw earnings rise.
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