China industrial firms’ profits indicate recovery

Quick rebound: A worker producing machinery at a factory in Nantong. More than 70% of industries in China have maintained a profit growth so far this year. ― AFP

BEIJING: China’s major industrial enterprises’ steady profit increases in the first five months of the year show the country’s economy is on the right road to recovery, officials and experts said.

However, targeted policy support will be needed to help downstream industries and smaller businesses cope with rising costs and ensure sound economic fundamentals.