BEIJING - The combined profit of major industrial enterprises went up 0.8 percent year-on-year in the first quarter of 2025, a reversal of the 3.3 percent decline in 2024, the National Bureau of Statistics (NBS) said on Sunday.

The growth ended the profit downturn that had persisted since the third quarter of last year, NBS statistician Yu Weining said.

Industrial firms with an annual main business revenue of at least 20 million yuan ($2.78 million) saw their combined profits reach 1.51 trillion yuan during the first quarter.

Profits increased in nearly 60 percent of China's major industrial sectors during the period, with 24 out of 41 major industrial categories registering year-on-year profit growth.

The manufacturing sector showed remarkable improvement, with its profit climbing by 7.6 percent year-on-year in the January-March period, an increase of 2.8 percentage points compared to the first two months.

During the first quarter, the combined business revenue of China's major industrial enterprises grew by 3.4 percent year-on-year, 0.6 percentage points higher than in the first two months.