Industrial enterprise profits increased by 15.2% year-on-year in the first two months, with cumulative costs declining for the first time since 2022.

[Caixin] Affected by the acceleration of industrial production and the improvement of the PPI (Producer Price Index), profits of large-scale industrial enterprises in the first two months of 2026 increased by 15.2% year-on-year, with the growth rate significantly accelerating compared to the previous year.

The data released by the National Bureau of Statistics on March 27, 2026, shows that from January to February, the total profit of large-scale industrial enterprises nationwide reached 1,024.56 billion yuan, which represents a year-on-year increase of 15.2% when calculated on a comparable basis, surpassing the full-year increase of 14.6 percentage points in 2025.

Yu Weining, the chief statistician of the Industrial Statistics Division of the National Bureau of Statistics, stated that the significant growth in operating income in the first two months, driven by the acceleration of production and the recovery of product prices, has created favorable conditions for the recovery of corporate profits. In the first two months of 2026, the operating income of large-scale industrial enterprises increased by 5.2% year-on-year, accelerating 4.2 percentage points compared to the entire previous year.