BEIJING -- Profits of China's major industrial firms decreased 1.7 percent year-on-year in the first seven months of 2025, official data showed Wednesday.

Industrial firms with an annual main business revenue of at least 20 million yuan (about $2.81 million) saw their combined profits reach 4.02 trillion yuan during the January-July period, according to the National Bureau of Statistics (NBS).

In July, profits of major industrial firms slipped 1.5 percent compared to a year earlier, with the decline narrowing by 2.8 percentage points compared to the figure registered in June. Profits of major firms in the manufacturing sector increased 6.8 percent, accelerating from a rise of 1.4 percent in June, the data showed.