Profits at China’s major industrial enterprises reached 6.03 trillion yuan in the first three quarters of 2026, marking a 15.5 percent year-on-year increase according to data released by the National Bureau of Statistics on Tuesday.
Electronics Demand and High-Tech Expansion Drive Growth
The double-digit expansion extended a prolonged run of growth driven largely by surging earnings in the electronics sector and high-tech manufacturing. Profits within the electronics sector doubled year-on-year across the first nine months, contributing 9.6 percentage points to the overall profit growth among major industrial firms.
Demand for artificial intelligence computing power and advanced memory products fueled the sector’s gains. Manufacturers of specialized electronic materials saw their profits jump 220 percent during the same period, chinadaily.com.cn reported.
High-tech manufacturing provided further support, with profits climbing 52 percent year-on-year. The sector accounted for 25.5 percent of total profits among major industrial firms, marking an increase of 6.2 percentage points from the previous year.
| Sector / Category | Performance Metric (Jan-Sep 2026) | Contribution / Share |
|---|---|---|
| Major Industrial Firms (Revenue ≥ 20m yuan) | 6.03 trillion yuan ($2.98 million) total profits | 15.5% year-on-year increase |
| Electronics Sector | Profits doubled year-on-year | Contributed 9.6 percentage points to overall growth |
| Specialized Electronic Materials | 220% profit jump | Driven by AI computing and advanced memory demand |
| High-Tech Manufacturing | 52% profit increase | Accounted for 25.5% of total industrial profits |
| Raw Materials Manufacturers | 44.9% profit increase | Contributed 5.9 percentage points to overall growth |
September Acceleration Ends Four Months of Moderation
Industrial enterprises with an annual main business revenue of at least 20 million yuan recorded a profit increase of 14.4 percent year-on-year in September alone. This monthly acceleration followed a 4.2 percent increase in August, effectively ending a four-month period of moderating growth.
Raw materials manufacturers also posted strong gains as part of the broader industrial upturn. Profits in that segment rose 44.9 percent year-on-year, contributing 5.9 percentage points to overall industrial profit growth.
“Profits at major industrial firms grew at a brisk pace in the first nine months, and the industrial economy made steady progress toward high-quality development,” Yu Weining, a statistician with the National Bureau of Statistics, stated.
Macroeconomic Policy Execution and Future Targets
Looking ahead toward the final quarter, Yu called for more effective use of macroeconomic policies, stronger efforts to expand domestic demand, and a faster transition to new growth drivers to strengthen the economy’s internal growth momentum, chinadaily.com.cn reported.
