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 Net】 Driven by an acceleration in industrial production and improvements in the PPI (Producer Price Index for Industrial Producers), among other factors, profits of industrial enterprises above designated size in the first two months of 2026 rose year over year by 15.2% on a large scale, with the growth rate sharply accelerating compared with the previous year.

According to data released by the National Bureau of Statistics on March 27, 2026, in the first two months, the cumulative national total profits of industrial enterprises above designated size were 1,024.56 billion yuan. Measured on a comparable basis, this represented a year-on-year increase of 15.2%, which is 14.6 percentage points higher than for all of 2025.

Wei Ning, chief statistician of the Industrial Division of the National Bureau of Statistics, said that jointly boosted by factors such as faster production and a rebound in product prices, operating income in the first two months increased markedly, creating favorable conditions for a recovery in corporate earnings. In the first two months of 2026, operating revenue of industrial enterprises above designated size grew year over year by 5.2%, accelerating by 4.2 percentage points compared with the full year of the previous year.