NBS: China 2024 industrial firms' profits fall 3.3% YoY

In 2024, sizable Chinese industrial enterprises posted gross profits of Yuan 7.43 trillion ($1.03 trillion), lower by 3.3% on year, according to the latest data released by China's National Bureau of Statistics (NBS) on Monday.

However, the pace of the decline was slower by 1.4 percentage points than that for the January-November period last year, Mysteel Global notes from the NBS data. For December, these industrial firms' gross profits increased by a marked 11% on year, as against the 7.3% on-year decline in November, the