Economic Buzz: China industrial profits growth cools to slowest in seven months

Profits of China's industrial firms above designated size increased 17.6 percent year on year during the first seven months of 2026, data from the National Bureau of Statistics showed Thursday. These industrial firms with annual main business revenue of at least 20 million yuan (about 2.95 million U.S. dollars) saw their combined profits reach 4.58 trillion yuan in the January-July period, according to the data. In the three major sectors, mining industry profits jumped 34.9 percent to 666.05 billion yuan, and manufacturing profits climbed 18.8 percent to nearly 3.44 trillion yuan. However, profits in the power, heat, gas and water production and supply sector fell 5.8 percent to 478.42 billion yuan. Among major industries, the computer, communications and other electronic equipment manufacturing sector saw profits surge 110 percent. Non-ferrous metal smelting and rolling processing jumped 91.8 percent, chemical raw materials and products manufacturing rose 56.6 percent, and coal mining and washing increased 50.4 percent. The petroleum, coal and other fuel processing sector turned from losses to profits. The NBS data also showed that in the first seven months, the combined revenue of these industrial firms reached 80.92 trillion yuan, up 6.5 percent year on year, while operating costs increased 5.9 percent to 68.79 trillion yuan.

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