Key facts
- China's industrial firms' profits rose 15.7% year-on-year in January-August 2026.
- Growth slowed from 17.6% in the January-July period.
- August alone saw a 4.2% year-on-year profit increase, down from 11.2% in July.
- Profits at state-owned enterprises increased 10.3% to CNY 1.67 trillion.
- Private firms posted a 10.4% gain to CNY 1.32 trillion.
- Mining profits surged 35.1%, followed by manufacturing at 17.4%.
Profits at China's industrial firms grew 15.7% in the first eight months of 2026 from a year earlier, according to official data released on Monday. This growth rate eased from a 17.6% increase recorded in the January-to-July period. The latest figures reflect continued strength in high-tech and AI-related manufacturing sectors, though subdued domestic demand has impacted profitability in some industries.
In August alone, industrial profits saw a year-on-year increase of 4.2%, a significant slowdown from the 11.2% growth observed in July. Profits at state-owned enterprises rose by 10.3% to CNY 1.67 trillion, while joint-stock companies experienced a 20.4% increase to CNY 4.07 trillion. Private firms reported a 10.4% gain, reaching CNY 1.32 trillion.
By sector, mining was the primary driver of profit growth, with a surge of 35.1%, followed by manufacturing at 17.4%. Utilities, however, saw a decline of 12.0%. Within specific industries, the strongest gains were recorded in computers and communications (110%), non-ferrous metal smelting and rolling (82.9%), coal mining and washing (51.6%), and chemicals (51.0%). Industrial profit figures encompass firms with yearly revenue of at least 20 million yuan ($2.98 million) from their main operations.