• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, October 23, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

China’s industrial profits decline in Q1 but signs of recovery

China

The Matters Press by The Matters Press
April 28, 2023
Reading Time: 1 min read
0
Coronavirus hits hard as China records 811 deaths

China’s major industrial firms experienced a decline in profits during the first quarter of 2023 but signs of recovery emerged with demand on the mend.

RELATED POSTS

Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria

‎IMPI revises inflation rate projection to 14% from 17% for December

CSOs give thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria

The data from the National Bureau of Statistics (NBS) showed on Thursday.

The NBS said that the industrial firms with annual main business revenue of at least 20 million yuan (about 2.9 million dollars) saw their combined profits reach about 1.52 trillion yuan in the period, down 21.4 per cent year on year.

NBS statistician Sun Xiao, said that in March, profits of major industrial firms declined 19.2 percent year on year, narrowing 3.7 percentage points from that in the first two months.

He said that the combined revenues of major industrial firms increased by 0.6 per cent year on year, reversing a decline of 1.3 per cent from January to February, as market demand recovered.

Xiao said that the equipment manufacturing sector witnessed a year-on-year increase of 5.4 per cent in terms of revenue in March, while profit fell seven per cent, narrowing by 19.1 percentage points from that in the first two months.

He said that driven by rising production and sales, profits of automobile manufacturing firms climbed 9.1 per cent in March, in sharp contrast to a decrease of 41.7 per cent in the January-February period.

Xiao said that the power production and supply sector reported a profit increase of 41.9 per cent in march from a year earlier, driven by the booming demand fuelled by economic recovery.

He also said that the warming consumption helped consumer product firms achieve better profits, the profits of liquor, beverage and refined tea manufacturers surged by 39.9 per cent year on year.

Xiao said that to accelerate the recovery of industrial profits, he urged efforts to expand market demand, perk up confidence and give enterprises reason to feel positive about the future.

Tags: China
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria

October 22, 2025
NBS reports increase in Inflation
Economy/Technology

‎IMPI revises inflation rate projection to 14% from 17% for December

October 22, 2025
CSOs give  thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria
Agriculture

CSOs give thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria

October 22, 2025
Standing With the Bello Family – Justice Must Never Be Cheapened
Energy

Standing With the Bello Family – Justice Must Never Be Cheapened

October 17, 2025
You led with distinction, CG of Customs, hails former boss,  Mohammed at 80
Economy/Technology

You led with distinction, CG of Customs, hails former boss, Mohammed at 80

October 10, 2025
Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Next Post
DMO raises N615bn Sukuk fund for roads

FGN securities is risk-free investment opportunities, DMO assures Nigerians

Nigeria’s 2023 Halal markets report projects market at $180bn by 2027

Nigeria’s 2023 Halal markets report projects market at $180bn by 2027

Recommended Stories

Trading in Nigerian stock market dips further N83bn

Odu’a Investment moves to list on NGX

January 20, 2024
Nigeria floats $4bn Eurobonds

DMO re-opens 4 FGN bonds valued at N360bn for subscription

April 12, 2023
NERC declares meters free under mass scheme

Company urges government’s support for meter manufacturing

April 21, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria
  • ‎IMPI revises inflation rate projection to 14% from 17% for December
  • CSOs give thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us