China’s industrial profits rose 17.6% year-on-year to CNY 4.58 trillion in the first seven months of 2026, slowing from an 18.7% surge in the January-June period. Profits at state-owned enterprises increased 16.3% to CNY 1.49 trillion, while joint-stock companies posted a stronger 23.6% gain to CNY 3.55 trillion. Meanwhile, private firms posted a 10.9% rise in profits to CNY 1.14 trillion. By sector, mining remained the main driver, with profits surging 34.9%, followed by manufacturing ( 18.8%). In contrast, utilities posted a 5.8% decline. Among industries, the strongest gains were recorded in computer, communication and other electronic equipment manufacturing (110%), non-ferrous metal smelting and rolling (91.8%), and chemicals (56.6%). In July alone, industrial profits increased by 11.2% from a year earlier, slowing from June's 15.1% jump.