In May, Chinese industrial companies achieved first-time growth in six months.
According to Reuters, the National Bureau of Statistics of China said that the profits of industrial companies in May rose six percent year on year to 582.3 billion yuan (82.28 billion dollars) , According to a statement released on Sunday.
This came after a 4.3 percent drop in April, which is also the largest monthly increase since March 2019.
Economic activity in China has clearly improved since the crackdown on strict virus containment measures that have struck businesses almost completely for weeks, lifted. But the recovery is not balanced, and demand remains weak at home and abroad amid fears of a second wave of injuries and a global recession.
"Despite growth in May, market demand remains relatively weak in light of the epidemic, and the sustainability of the profit recovery requires more Continue.
Chinese factory profits were affected by the biggest drop in factory door delivery prices in more than four years in May, while exports fell again, erasing a gain that was not written in April.
In the first five months of 2020, the profits of industrial companies declined 19.3 percent from the corresponding period of last year to 1.84 trillion yuan.
May's earnings growth was supported by a recovery in profits in key industries such as oil refining, electricity, chemicals and steel.
