04/27/2021, 11.34
CHINA - ASIA
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China’s industrial profits soar over 90%. Seoul and Taipei also do well

The Chinese figure is affected by lower profits from the pandemic last year. However, Beijing's industrial growth is slowing down. South Korea is also recovering strongly. Taiwan's economy continues to make new records.

Beijing (AsiaNews / Agencies) - The profits of large Chinese industries registered an annual increase of 92.3% in March.

The National Bureau of Statistics, they earned 711.2 billion yuan (90.8 billion euros) last month. The figure is influenced by lower earnings recorded in the same period last year, when the country was grappling with the early stages of the coronavirus pandemic.

However, the figures published by the Chinese authorities show that industrial growth in the country is slowing down: in the two months of January-February, corporate profits saw a 179% increase on an annual basis.

China is not the only Asian country recovering from the pandemic crisis. South Korea's economy has returned to pre-pandemic levels. The South Korean central bank reported today that gross domestic product grew by 1.6% in the first three months of 2021 compared to the last quarter of 2020, driven by industrial investments. According to Seoul forecasts, national GDP will grow by 3.2% this year.

Taiwan should do even better. The Taiwan Institute of Economic Research recently estimated that the island's GDP will increase by 5% at the end of 2021. Boosted by the hi-tech sector, the flagship of the Taiwanese economy, the local industry has reached a March a new peak of production: the 14th consecutive month in positive sign.

Taipei is in all likelihood the country that has best managed the health emergency. In 2020, the national GDP grew by 2.9%, more than the 2.3% recorded in China.

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