BEIJING, May 27 (Xinhua) -- China's industrial profits grew at a faster pace in the first four months of 2026, buoyed by effective macro policies and the performance of new growth drivers, including equipment manufacturing and high-tech manufacturing.
China's major industrial firms, those with an annual main business revenue of at least 20 million yuan (about 2.93 million U.S. dollars), saw their combined profits rise 18.2 percent year on year in the January-April period, 2.7 percentage points faster than the growth registered in the first quarter, according to the National Bureau of Statistics (NBS).
In April alone, profits of major industrial firms increased 24.7 percent from a year earlier.
NBS statistician Yu Weining said the effective implementation of more proactive and impactful macro policies had helped sustain rapid industrial production growth and a recovery in industrial product prices, leading to faster growth in industrial profits.
Meanwhile, new growth drivers, including equipment manufacturing and high-tech manufacturing, provided stronger support for overall profit increases, Yu said.
Major industrial firms also posted steady revenue growth. In the first four months, their combined operating revenue rose 5.2 percent year on year, 0.2 percentage points faster than in the first quarter, providing important support for the continued recovery in corporate performance.
Equipment manufacturing maintained double-digit profit growth. In the first four months, profits of major equipment manufacturers rose 15.4 percent year on year, contributing 5.4 percentage points to the profit growth of all major industrial firms.
The electronics sector was a major contributor. Driven by increased demand and a continued price recovery, profits in the sector surged 107.7 percent year on year during the period.
High-tech manufacturing also played a notable leading role. In the January-April period, profits of major high-tech manufacturers jumped 44.8 percent year on year, contributing 7.8 percentage points to the profit growth of all major industrial firms.
The rapid development of semiconductor-related industries drove profits in the manufacturing of electronic special materials, optical fiber and optoelectronic devices up 601.7 percent, 347.6 percent and 51 percent, respectively.
Profit growth was also rapid in industries related to industrial automation and intelligent manufacturing. Profits in the manufacturing of industrial control computers and systems, testing machines, and industrial automatic control system devices rose 128.6 percent, 58.8 percent and 17.3 percent, respectively.
In the medical sector, profits in the manufacturing of dental equipment and appliances, as well as sanitary materials and medical supplies, rose 25 percent and 24 percent, respectively.
Profit growth in raw material manufacturing continued to accelerate. Rising international crude oil prices pushed up prices of products along related industrial chains. The petroleum processing industry turned losses into profits compared with the same period last year, while profits in the chemical industry grew 73.4 percent.
The rapid development of emerging industries such as new energy, artificial intelligence and new-generation information technology drove a sharp increase in demand for non-ferrous metals, including aluminum, copper, gold and lithium, pushing profits in the non-ferrous metals industry up 117.8 percent.
Yu noted that in general, major industrial enterprises saw relatively fast profit growth in the first four months. However, the external environment remained complex and volatile, and the domestic imbalance between strong supply and weak demand was still prominent, with some enterprises continuing to face difficulties in production and operation.
Yu said efforts should be made to expand domestic demand and optimize supply, further strengthen domestic circulation, optimize dual circulation of domestic and international markets, and promote a sustained and balanced development of the industrial economy. ■
