BEIJING: Faced with various economic challenges posed by the Covid-19 pandemic and geopolitical conflicts, Chinese enterprises are braving these headwinds with state policy support. The earnings of China's major industrial firms jumped 8.5 percent, with 24 out of 41 industries seeing a year-on-year profit growth. These have improved consumption and unleashed the potential of new businesses in the services sector, NBS statistician Li Suoqiang said. The value-added industrial output of China's major high-tech manufacturers jumped 14.2 percent year on year in the previous quarter, 7.7 percentage points higher than that of the major industrial firms. Thanks to this support, China's market entities are thriving.

Source: Manila Times May 03, 2022 18:22 UTC