China's industrial profits surged 24.7% in April, the fastest growth in over two years, driven by rising AI-related demand and higher oil prices linked to the Iran war.

Employees work on the production line of automotive display chips at a workshop on May 22, 2026 in Huzhou, Zhejiang Province of China.Vcg | Visual China Group | Getty…

China's industrial profits jumped 24.7% in April 2026, driven by booming AI semiconductor demand and rising oil prices, extending a strong Q1 growth trend.

China's industrial firms reported higher profits at the start of the second quarter, despite a broader growth slowdown.

China's industrial profits surged 24.7% in April, the fastest growth in over two years, driven by rising AI-related demand and higher oil prices linked to the Iran war.