BEIJING (Sputnik) — Chinese industrial companies' profits in the first two months of 2016 grew the fastest since 2014, amounting to 780.7 billion yuan ($120 billion), according to the statistics bureau.
Companies earning over 20 million yuan per year in profits were included in the data.
The early 2016 drive in profitability comes following months of slowdown in the Chinese economy. China's growth rates throughout 2014 and 2015 have been the slowest since the 2009 recession, amounting to less than half of the post-recession 2010 peak of over 12 percent. The yuan has seen numerous devaluations, while Chinese stock markets were marked by turbulence.