Latest news with #YuWeining
RTHK
27-05-2025
- Business
- RTHK
NBS data shows China's industrial profits up 1.4pc
NBS data shows China's industrial profits up 1.4pc NBS data showed private sector companies and foreign firms enjoyed growth of 4.3 percent and 2.5 percent, respectively, over the first four months of the year. File photo: Reuters China's industrial profits picked up pace in April, official data showed on Tuesday. Industrial profits rose 1.4 percent year-on-year in the January-April period, according to data released by the National Bureau of Statistics (NBS). This compared with 0.8 percent growth over the first quarter. In April alone, profits rose 3 percent versus a 2.6 percent rise a month prior. "China's industrial policy priorities look to be working well," said Dan Wang, Eurasia Group's China director. "Commodities involved in new energy and new materials supply chains are doing well, as are those in high-end manufacturing." Profits at state-owned enterprises fell 4.4 percent over the first four months, the NBS data showed, while private sector companies and foreign firms enjoyed growth of 4.3 percent and 2.5 percent, respectively. Industrial profit numbers cover firms with annual revenue of at least RMB20 million from their main operations. "The foundation for stable profit growth still needs to be strengthened," Yu Weining, an NBS statistician, said in a note accompanying the data. "Challenges remain: global uncertainties, insufficient demand and falling prices continue to weigh on the recovery." (Reuters)
Business Times
27-04-2025
- Business
- Business Times
China March industrial profits rise, defying trade tensions
Profits at China's industrial firms rebounded in March, driven by a boost in income from the high-technology manufacturing sector and signalling economic resilience amid trade tensions with the US. Industrial profits rose by 2.6 per cent in March from a year earlier, taking the gain for the first quarter to 0.8 per cent, according to data released on Sunday (Apr 27) by the National Bureau of Statistics. Last month's data compares with a 0.3 per cent contraction for the first two months. A turnaround in industrial profit is regarded as critical in lifting business confidence, and encouraging companies to invest and hire, to help the Chinese government achieve its reiterated commitment to achieve around 5 per cent economic growth this year. High-technology focused manufacturers' profit rose 3.5 per cent in the quarter, reversing a 5.8 per cent decline in the first two months of the year. Almost three-fifths of industrial sectors recorded profit growth in March, according to the statement. China said on Friday that it will 'fully prepare' emergency plans to protect the nation against increasing external shocks as it defends its growth goals amid a deepening trade war with the US that is challenging the world's No 2 economy. The country's decision-making Politburo pledged to create new monetary and policy tools to boost technology, consumption and trade. Such steps could allow for faster deployment of low-cost credit for investment in targeted areas. 'Incremental and existing policies have worked in concert, enabling the industrial economy to get off to a good start,' NBS analyst Yu Weining said in a statement. 'At this stage, the external environment has become more complex and severe, with an increase in unstable and uncertain factors.' BLOOMBERG
CNBC
27-04-2025
- Business
- CNBC
China's first-quarter industrial profits return to growth amid tariff woes
China's industrial profits returned to growth in the first quarter, official data showed on Sunday, but are likely to come under further pressure amid a trade war with the United States. With Washington's aggressive tariffs threatening to hit China's crucial export engine hit and no time frame yet for any bilateral trade talks, economists and investors are waiting for the Chinese government to roll out more support measures to cushion the blow to the world's second-largest economy. Cumulative profits of China's industrial firms rose 0.8% to 1.5 trillion yuan ($205.86 billion) in the first quarter from a year earlier, the National Bureau of Statistics (NBS) data showed, reversing a 0.3% decline in the first two months. In March alone, profits rose 2.6% on-year. The profit gain in the first quarter followed a 3.3% fall in 2024, reversing the trend of continuous declines in cumulative profits of enterprises since the third quarter of last year, Yu Weining, an NBS statistician, said in a separate statement along with the data release. Thanks to a consumer goods trade-in campaign, profits in the wearable smart device manufacturing sector soared by 78.8% while those for household kitchen appliance makers rose 21.7%, said the statement. China reported stronger-than-expected economic growth in the first quarter as government stimulus boosted consumption and supported investment, but deflationary pressures persisted, ripping into corporate profits and workers' incomes as firms tried to navigate rising trade disruptions. "At the current stage, the external environment is becoming more complex and severe, and unstable and uncertain factors are increasing," said Yu, adding the government will further strengthen policy implementation and promote the continuous improvement of corporate profitability. Beijing has made increasingly louder calls on exporters to find local buyers as an alternative to the U.S. market, now effectively frozen after Washington hiked tariffs on Chinese goods by 145%, but many export-reliant factories have decried weak domestic demand, price wars, low profits and payment delays in the Chinese market. The ruling Communist Party's Politburo on Friday pledged to support firms and workers most affected by the impact of U.S. tariffs, also saying new monetary tools and policy financing instruments will be set up to boost innovation, consumption and foreign trade. Profits at state-owned firms dipped 1.4% in the first quarter. Private-sector companies saw a 0.3% fall, but foreign firms recorded a 2.8% gain, according to a breakdown of the NBS data. Industrial profit numbers cover firms with annual revenue of at least 20 million yuan from their main operations.
Business Recorder
27-04-2025
- Business
- Business Recorder
China's Q1 industrial profits return to growth amid tariff woes
BEIJING: China's industrial profits returned to growth in the first quarter, official data showed on Sunday, but are likely to come under further pressure amid a trade war with the United States. With Washington's aggressive tariffs threatening to hit China's crucial export engine hit and no time frame yet for any bilateral trade talks, economists and investors are waiting for the Chinese government to roll out more support measures to cushion the blow to the world's second-largest economy. Cumulative profits of China's industrial firms rose 0.8% to 1.5 trillion yuan ($205.86 billion) in the first quarter from a year earlier, the National Bureau of Statistics (NBS) data showed, reversing a 0.3% decline in the first two months. In March alone, profits rose 2.6% on-year. China's Q1 automobile exports up 16% y/y, industry official says The profit gain in the first quarter followed a 3.3% fall in 2024, reversing the trend of continuous declines in cumulative profits of enterprises since the third quarter of last year, Yu Weining, an NBS statistician, said in a separate statement along with the data release. Thanks to a consumer goods trade-in campaign, profits in the wearable smart device manufacturing sector soared by 78.8% while those for household kitchen appliance makers rose 21.7%, said the statement. China reported stronger-than-expected economic growth in the first quarter as government stimulus boosted consumption and supported investment, but deflationary pressures persisted, ripping into corporate profits and workers' incomes as firms tried to navigate rising trade disruptions. 'At the current stage, the external environment is becoming more complex and severe, and unstable and uncertain factors are increasing,' said Yu, adding the government will further strengthen policy implementation and promote the continuous improvement of corporate profitability. Beijing has made increasingly louder calls on exporters to find local buyers as an alternative to the US market, now effectively frozen after Washington hiked tariffs on Chinese goods by 145%, but many export-reliant factories have decried weak domestic demand, price wars, low profits and payment delays in the Chinese market. The ruling Communist Party's Politburo on Friday pledged to support firms and workers most affected by the impact of US tariffs, also saying new monetary tools and policy financing instruments will be set up to boost innovation, consumption and foreign trade. Profits at state-owned firms dipped 1.4% in the first quarter. Private-sector companies saw a 0.3% fall, but foreign firms recorded a 2.8% gain, according to a breakdown of the NBS data. Industrial profit numbers cover firms with annual revenue of at least 20 million yuan from their main operations.
RTHK
27-04-2025
- Business
- RTHK
China's Q1 industrial profits grow amid tariff woes
China's Q1 industrial profits grow amid tariff woes Cumulative profits of China's industrial firms have risen 0.8 percent to 1.5 trillion yuan in the first quarter from a year earlier. File photo: Reuters China's industrial profits returned to growth in the first quarter, official data showed on Sunday, but are likely to come under further pressure amid a trade war with the United States. Washington's aggressive tariffs are threatening to hit China's crucial export engine and there is no time frame yet for any bilateral trade talks. Cumulative profits of China's industrial firms rose 0.8 percent to 1.5 trillion yuan in the first quarter from a year earlier, the National Bureau of Statistics (NBS) data showed, reversing a 0.3 percent decline in the first two months. In March alone, profits rose 2.6 percent on-year. The profit gain in the first quarter followed a 3.3 percent fall in 2024, reversing the trend of continuous declines in cumulative profits of enterprises since the third quarter of last year, Yu Weining, an NBS statistician, said in a separate statement along with the data release. Thanks to a consumer goods trade-in campaign, profits in the wearable smart device manufacturing sector soared by 78.8 percent while those for household kitchen appliance makers rose 21.7 percent, said the statement. China reported stronger-than-expected economic growth in the first quarter as government stimulus boosted consumption and supported investment. "At the current stage, the external environment is becoming more complex and severe, and unstable and uncertain factors are increasing," said Yu, adding the government will further strengthen policy implementation and promote the continuous improvement of corporate profitability. Beijing has made increasingly louder calls on exporters to find local buyers as an alternative to the US market, now effectively frozen after Washington hiked tariffs on Chinese goods by 145 percent. The Politburo on Friday pledged to support firms and workers most affected by the impact of US tariffs, also saying new monetary tools and policy financing instruments will be set up to boost innovation, consumption and foreign trade. Profits at state-owned firms dipped 1.4 percent in the first quarter. Private-sector companies saw a 0.3 percent fall, but foreign firms recorded a 2.8 percent gain, according to a breakdown of the NBS data. Industrial profit numbers cover firms with annual revenue of at least 20 million yuan from their main operations. (Reuters)
