China's Industrial Companies See 21.1% Increase in Profits in May

The profits of China's industrial companies increased by 21.1% in May compared to the same period last year. According to the data from the National Bureau of Statistics, the total profit of industrial enterprises with an annual turnover of over 20 million yuan (approximately $2.94 million) increased by 21.1% in May compared to the same period last year. The high increase in profits, which was 15.2% in the first two months, 15.8% in March, and 27.4% in April, continued in May. In the first 5 months of the year, profits also increased by 18.8% compared to the same period last year. The increase in the profits of industrial companies was driven by the rise in energy and raw material prices and the growing demand in industries related to artificial intelligence. The profits of China's industrial companies had increased by 0.6% in 2025, marking the first increase after three years of decline.