<div id="readability-page-1"><div> China's industrial profit jumped in March despite a global energy squeeze as the Middle East conflict unfolded, in part thanks to Beijing's front-loaded policy support. Industrial profit in the world's second-largest economy rose 15.8% last month compared with a year ago, the National Statistics Bureau said Monday. For the first quarter of the year, China's industrial profit expanded 15.5% from the prior-year period, accelerating from the 15.2% growth seen in the January-February period. According to the statistics bureau, the sharp improvement at the start of 2026 was mainly supported by the strong performance of China's equipment and high-tech manufacturing sectors. The raw materials manufacturing sector maintained double-digit profit growth, the bureau said. Senior government statistician Yu Weining said Monday that Beijing's front-loaded proactive policy measures helped lift industrial profit. Still, Yu cautioned that China faces an uncertain external environment, alongside a persistent domestic imbalance of strong supply and weak demand. Economists have been closely monitoring whether rising energy prices would further erode Chinese businesses' already-thin margins. Last month, the global energy turmoil helped China snap a streak of factory deflation that lasted more than three years, but consumer inflation remained subdued. For Citi's economists, China's recent inflationary impulse has subsided from its peak, showing little sign of further passthrough. China's domestic gasoline and diesel prices have both fallen 4% to 8% from their early April highs, they said in a Monday note. &#34;The outlook hinges largely on oil--absent another significant leg up, peak inflationary momentum may now be behind us.&#34; Citi said. Focus is on China's Politburo meeting this week, where Chinese leadership is set to discuss economic policies for the months to come. While solid growth in the first quarter means Beijing is unlikely to roll out major policy easing anytime soon, economists say leaders could offer clues on plans to further secure the Chinese economy from future energy shocks. &#34;We expect policymakers to maintain their pro-growth policy stance, focus more on the implementation of planned easing measures (especially on the fiscal front), and continue to highlight their long-term strategy to promote high-tech manufacturing, new infrastructure, services sectors, and people's livelihood,&#34; said Goldman Sachs economists in a Friday note. <pre></pre> Write to Singapore Editors at singaporeeditors@dowjones.com <pre></pre> (END) Dow Jones Newswires April 26, 2026 22:46 ET (02:46 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

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中国工业利润在 2026 年 3 月激增 15.8%，第一季度增长 15.5%，这得益于设备制造和高科技制造的强劲表现，以及积极的政府政策的支持。尽管如此，由于外部不确定性和国内需求疲软，仍然面临挑战。经济学家们密切关注能源价格，因为这可能影响利润率。即将召开的政治局会议预计将讨论经济政策，重点是维持促进增长的策略并支持高科技行业

China's Industrial Profit Growth Accelerated in First Quarter

- 中国 3 月工业利润同比增长 15.8%，主要受到政策支持。  
- 2026 年第一季度工业利润增长 15.5%，受设备和高科技制造业强劲表现推动。  
- 专家警告外部环境仍不确定，关注即将召开的中央政治局会议。

中国工业利润增长在第一季度加速