Government policies to rejuvenate economy start yielding tangible results

Profit growth at China's major industrial firms hit an eight-month high in March, backing expectations the world's second-largest economy is set to stabilize as the government policies to bolster growth start to take effect, said industry analysts.

Industrial profits rose 13.9 percent year-on-year to 589.5 billion yuan ($87.6 billion) in March, data from the National Bureau of Statistics showed.

That compared with a 14 percent year-on-year fall in the first two months, the fastest pace since August 2018.