Briefly

Industrial profits down in Jan, Feb

The combined profit of China's major industrial enterprises fell 0.3 percent year-on-year in the first two months, the National Bureau of Statistics said on Thursday. Industrial firms with an annual main business revenue of at least 20 million yuan ($2.79 million) saw their combined profits reach 910.99 billion yuan during this period. In the first two months of the year, China's manufacturing sector reported a total profit of 639.51 billion yuan, a year-on-year increase of 4.8 percent.

China Life Insurance's net profits increase

China Life Insurance (Group) Co, one of the country's biggest insurers, pocketed 106.94 billion yuan ($14.9 billion) in net profits in 2024, more than doubling from the year prior. The insurer's total premium income hit 671.46 billion yuan last year, up 4.7 percent year-on-year, it said in a statement. Its total assets stood at 6.77 trillion yuan at the end of 2024, and its investment assets reached 6.61 trillion yuan.

Xinhua - China Daily