China's industrial profits up 8.5 pct in Q1

Profits of China's major industrial firms rose 8.5 percent year on year in the first quarter of 2022, official data showed on Wednesday.

Industrial firms each with annual main business revenue of at least 20 million yuan (3.05 million U.S. dollars) saw their combined profits reach 1.96 trillion yuan in the period, the National Bureau of Statistics said.