China’s industrial profits increased in the first quarter despite the challenges posed by the pandemic at the start of the year, official data showed on Wednesday.
Industrial profits grew 8.5 percent in the first quarter from the same period last year, the National Bureau of Statistics revealed. Profits were up 5 percent in the first two months of 2022.
In March, industrial profits advanced 10.6 percent on a yearly basis.
According to official estimate, economic growth accelerated to 4.8 percent in the first quarter from 4.0 percent in the preceding period.