China's industrial profits up 1.4 pct in Jan-April

Profits of China's major industrial firms increased 1.4 percent year on year in the first four months of the year, accelerating from a rise of 0.8 percent in the first quarter, official data showed Tuesday.

Industrial firms with an annual main business revenue of at least 20 million yuan (about 2.78 million U.S. dollars) saw their combined profits reach 2.12 trillion yuan during the January-April period, according to the National Bureau of Statistics (NBS).

In April alone, profits of major industrial firms rose 3 percent compared to a year earlier, the NBS data showed. ■