<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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中國工業利潤在 2026 年 3 月激增 15.8%，第一季度增長 15.5%，這得益於設備製造和高科技製造的強勁表現，以及積極的政府政策的支持。儘管如此，由於外部不確定性和國內需求疲軟，仍然面臨挑戰。經濟學家們密切關注能源價格，因為這可能影響利潤率。即將召開的政治局會議預計將討論經濟政策，重點是維持促進增長的策略並支持高科技行業

China's Industrial Profit Growth Accelerated in First Quarter

- 中國 3 月工業利潤同比增長 15.8%，主要受到政策支持。  
- 2026 年第一季度工業利潤增長 15.5%，受設備和高科技製造業強勁表現推動。  
- 專家警告外部環境仍不確定，關注即將召開的中央政治局會議。

中國工業利潤增長在第一季度加速