SHANGHAI -- Earnings at publicly traded Chinese enterprises are recovering as rising resource prices give the fortunes of oil and coal giants a big boost.
Listed companies' net profits totaled 617.3 billion yuan ($89.6 billion) for the January-March quarter, up 21% on the year, shows a Nikkei survey of 2,744 businesses and based on data from Chinese financial information provider Shanghai DZH. Sales surged 23% to 6.81 trillion yuan. The resources, real estate and automotive sectors contributed to nearly 50% of the growth in overall profit.
