China’s industrial profits increased significantly in March largely due to rising producer prices and the low base effect, the National Bureau of Statistics reported on Tuesday.

Profits of industrial firms grew 92.3 percent in March from the same period last year. In the first two months of the year, profits had advanced 179 percent.

During January to March period, industrial profits logged a sharp annual growth of 137 percent.

There are still great uncertainties in the global epidemic developments and the international environment, and the recovery between industries is still uneven, Zhu Hong, an official at the NBS said.

The material has been provided by InstaForex Company –

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