China’s industrial profit rose 0.8% in June, recovering from a decline in May

The National Bureau of Statistics of China (NBS) reported that profits of Chinese industrial enterprises rose 0.8% year-on-year in June. This signals a recovery after falling 6.5% in May.

The industrial profit increased by 1% year-on-year from January to June this year, reaching a level of more than 4.27 trillion yuan.

The profits of Chinese industrial enterprises are based on large enterprises with annual sales of at least 20 million yuan (about $2.96 million).

The latest Chinese industrial data are in line with NBS figures, which show that Chinese industrial production rose by 3.9% year-on-year in June. After growing by only 0.7% in May, economic activity recovered significantly after suffering for months from the lockdown measures to contain the spread of COVID-19.

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