The combined profit of major industrial enterprises went up 0.8% year on year in the first quarter of 2025, a reversal of the 3.3 percent decline in 2024, the National Bureau of Statistics (NBS) said. The growth ended the profit downturn that had persisted since the third quarter of last year, NBS statistician Yu Weining said.

Industrial firms with an annual main business revenue of at least 20 million yuan (about US$2.78 million) saw their combined profits reach 1.51 trillion yuan during the first quarter.

Profits increased in nearly 60 percent of China’s major industrial sectors during the period, with 24 out of 41 major industrial categories registering year-on-year profit growth.

From January to March, the main business income of textile enterprises above the designated size totaled 538.73 billion yuan, increasing by 2.5% compared with the same period of the previous year; the profit of the textile industry totaled 12.14 billion yuan, with year-on-year growth of 7.1%. While the main business income of enterprises above the designated size in the garment and accessories industry reached 280.68 billion yuan, up by 3.3% year-on-year, the profit of the garment and accessories industry reached 8.48 billion yuan, with a year-on-year decline of 10.1%.

As for the performance of leather, fur, feather, and their products and footwear industry, their main business income reached 190.27 billion yuan, increasing by 0.9% year-on-year; their profit totaled 7.46 billion yuan, dropping by 5.4% year-on-year.

From January to March, the main business income of enterprises above designated size in the chemical fiber manufacturing industry was 254.73 billion yuan, down by 4.7% year-on-year, and its profit totaled 5.46 billion yuan, up by 5.4% year-on-year.

During the first quarter, the combined business revenue of China’s major industrial enterprises grew by 3.4 percent year on year, 0.6 percentage points higher than in the first two months.

Source: CHINA TEXTILE LEADER Express