China industrial profits rise 17.6 percent amid high-tech growth

Data from the China National Bureau of Statistics shows that the operating revenue of large-scale industrial enterprises in China increased by 6.5 percent from January to July this year. During the same period, profits for these enterprises rose by 17.6 percent, driven by rising prices of industrial products.

Key growth sectors included mining and manufacturing, which saw profit increases of 34.9 percent and 18.8 percent, respectively. The electronics industry experienced significant gains due to the expansion of 'AI+' and rising demand for computing power. Specifically, the integrated circuit industry, including computing and memory chips, saw profits surge 18.5 times, contributing over 80 percent of the total electronics sector profit.

Additionally, a CGTN survey indicates that 87 percent of respondents view China as playing a stabilizing role in global trade as both a ‘super buyer’ and ‘super seller.’ The survey highlights that 89.2 percent of respondents consider Chinese products, such as smart devices and electric vehicles, to be competitive in the global market due to modern technology and cost-effectiveness.