China’s Industrial Profit Growth Picks Up Despite US Tariffs

China’s industrial firms saw their profits increase at a faster pace in April, as a government trade-in program drove demand for manufactured products in the face of pressure from higher US tariffs.

Industrial profits climbed 3% last month from a year earlier, stronger than a 2.6% gain in March, according to data released Tuesday by the National Bureau of Statistics. For the January-April period, they rose 1.4% year-on-year.