BEIJING, Dec. 27 (Xinhua) -- Profits of China's major industrial firms increased 0.1 percent year on year in the first 11 months of 2025, extending the growth streak that began in August, official data showed on Saturday.
Industrial firms with an annual main business revenue of at least 20 million yuan (about 2.8 million U.S. dollars) saw their combined profits reach nearly 6.63 trillion yuan during the January-November period, according to the National Bureau of Statistics (NBS).
"Profit growth of major industrial firms moderated slightly, but continued the upward trend seen since August," said NBS statistician Yu Weining.
Growth momentum from equipment manufacturing and high-tech sectors has remained solid, supporting steady progress in industrial upgrading, according to Yu.
During the January-November period, profits in the equipment manufacturing sector rose 7.7 percent year on year, contributing 2.8 percentage points to overall profit growth, the largest contribution among all sectors. Among this sector's eight major categories, seven reported profit increases.
During the same period, profits in high-tech manufacturing grew 10 percent year on year, accelerating by 2 percentage points from the January-October period and outpacing the overall industrial average by 9.9 percentage points.
The nationwide "AI Plus" initiative has supported strong profit growth in related equipment manufacturing sectors, Yu noted, highlighting that profits in electronics-specialized equipment manufacturing increased 57.4 percent year on year.
Profits in the raw materials manufacturing sector rose 16.6 percent year on year in the first 11 months, contributing to overall industrial profit growth. Steel industry profits have improved significantly so far this year, aided by a low base effect, while non-ferrous metals maintained double-digit growth, driven by rising market demand and revenue growth.
Saturday's data also showed that industry revenues continued to expand during this period, with major industrial firms reporting a 1.6-percent rise in operating revenue.
Amid global uncertainties and structural adjustment pressures of transformation from old growth drivers into new ones, the foundation for a sustained recovery in industrial performance needs further consolidation, Yu noted.
China will advance efforts to promote the transformation and upgrading of traditional industries, cultivate new quality productive forces, and accelerate the development of a modern industrial system, he added.
China's economy has maintained steady momentum in November, as key economic indicators -- industrial production, retail sales and services -- extended gains, while employment continued its stable trend, according to earlier NBS data. ■
