Profits of China’s major industrial firms increased 4.3% year on year in the first four months of the year, official data showed. The growth rate was the same with that registered in the first quarter, according to the National Bureau of Statistics.

Industrial firms with an annual main business revenue of at least 20 million yuan (about US$ 2.81 million) saw their combined profits reach 2.09 trillion yuan during the January-April period.

The profit of the manufacturing industry totaled 1.44 trillion yuan in the first four months, growing by 8.0% year-on-year.

From January to April, the main business income of textile enterprises above designated size reached 718.85 billion yuan, which increased by 4.0% compared with the same period the previous year; the profit of the textile industry totaled 18.51 billion yuan, with year-on-year growth of 24.9%.

While the main business income of enterprises above designated size in the garment and accessories industry reached 365.02 billion yuan, up by 0.4% year-on-year; the profit of the garment and accessories industry reached 13.84 billion yuan, with year-on-year growth of 7.4%.

In the first four months, the main business income of leather, fur, feather and their products and footwear industry reached 253.14 billion yuan, up by 6.0% year-on-year; their profit totaled 10.81 billion yuan, with year-on-year growth of 18.7%.

As for the performance of chemical fiber manufacturing enterprises above designated size, their main business income totaled 369.35 billion yuan in the first four months, up by 17.7% year-on-year; and the profit totaled 7.82 billion yuan, surged by 181.3% year-on-year.

Source: CHINA TEXTILE LEADER Express