China’s industrial profits rose 15.7% year-on-year to CNY 5.27 trillion in the first eight months of 2026, easing from a 17.6% increase in the January–July period. The latest figures highlight ongoing strength in high-tech and AI-related manufacturing, even as subdued domestic demand continued to weigh on profitability in several sectors.
Profits at state-owned enterprises climbed 10.3% to CNY 1.67 trillion, while joint-stock companies recorded a 20.4% rise to CNY 4.07 trillion. Private firms saw profits increase by 10.4% to CNY 1.32 trillion.
By sector, mining remained the primary growth engine, with profits surging 35.1%, followed by manufacturing with a 17.4% gain, whereas utilities’ profits fell 12.0%.
At the industry level, the strongest profit growth was recorded in computers and communications (110%), non-ferrous metal smelting and rolling (82.9%), coal mining and washing (51.6%), and chemicals (51.0%).
In August alone, industrial profits increased 4.2% from a year earlier, a sharp deceleration from the 11.2% growth in July and the slowest pace recorded so far this year.
