China's industrial profits up 16.8 pct in December 2023

BEIJING, Jan. 27 (Xinhua) -- China's major industrial firms saw their profits increase 16.8 percent year on year in December last year, data from the National Bureau of Statistics showed on Saturday.

In 2023, the profits of major industrial firms with annual main business revenue of at least 20 million yuan (about 2.8 million U.S. dollars) reached 7.69 trillion yuan, down 2.3 percent year on year, with the pace of decline narrowing by 2.1 percentage points from the first 11 months.