Profits show real economy recovery

Financial results for 2016 reflect growth led by consumption

Transportation and logistics, food and beverages, and infrastructure-related sectors reported profit surges in 2016, according to annual results filed by companies listed in Shanghai and Shenzhen, showing China's real economy is recovering, and is shifting to the consumption-driven growth model.

By early April, 1,195 companies had released their annual results for 2016, among which 1,142 reported profits.