Foreign media: Profit of large-scale industrial enterprises in China grew by 15.8% year-on-year in March, reaching a six-month high; first-quarter profits totaled 1.696 trillion yuan, up 15.5% year-on-year, far exceeding the 0.8% growth in the same period last year. This strong performance is attributed to rising global commodity prices driven by the Iran conflict, marking the first time in three years that China's Industrial Producer Price Index turned positive.
Profit growth in manufacturing reached 19.1%, outpacing mining industries; fuel processing industries turned from loss to profit, while profits in fiber optics manufacturing, optoelectronic devices, and display components rose sharply by 336.8%, 43%, and 36.3% respectively, and profits in computer and communication equipment manufacturing surged by 120%.
This recovery is primarily driven by efficiency improvements rather than a rebound in demand.
Original article: toutiao.com/article/1863637077259524/
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