The combined profits of China’s large industrial companies in January–February 2026 rose by 15.2% compared to the same period last year—to 1.02 trillion yuan ($147.6 billion), according to a report by the National Bureau of Statistics (NBS). Industrial enterprises with annual revenue exceeding 20 million yuan are considered large.
The growth was the strongest for this period since 2018, notes Trading Economics.
Profits of state-owned companies increased by 5.3% over the first two months of this year, while those of private companies jumped by 37.2%.
Significant profit growth in January-February was recorded in the computer and communications equipment manufacturing segment (3-fold) and ferrous metal production (2.5-fold), as well as in the chemical industry (+35.9%).
By the end of 2025, the profits of large industrial enterprises increased by 0.6%.
China’s foreign exchange reserves, the largest in the world, increased by $28.7 billion (+0.85%) in February compared to the previous month and amounted to $3.428 trillion, according to a statement by the People’s Bank of China.
The reserves reached their highest level since November 2015.
The US dollar rose 0.51% against a basket of major world currencies last month. The yuan rose 1.35% against the US currency.
Gold reserves in China rose for the sixteenth consecutive month in February, to 74.22 million ounces from 74.19 million ounces in January. In value terms, gold reserves rose to $387.59 billion from $369.58 billion at the end of January.
China has announced plans to invest 300 billion yuan ($44 billion) in state-owned banks this year to protect against systemic risks and increase funding for technology companies.
These measures were outlined in the annual government work report presented at the opening of the National People’s Congress (NPC) session.
It states that Beijing will continue to replenish the capital of financial institutions and prudently dispose of non-performing assets in this sector. The authorities also plan to regulate competition between financial companies and promote consolidation among small and medium-sized local financial institutions.
The government announced the creation of an additional fund of 100 billion yuan to stimulate domestic demand through measures such as subsidizing interest rates on loans, financing guarantees, and risk compensation.
Beijing has also promised to continue to combat “risks arising in the real estate sector, local government debt, and small and medium-sized local financial institutions.”
According to Western media reports, the country’s authorities are likely to replenish the capital of the Industrial & Commercial Bank of China and the Agricultural Bank of China this year. They were not included in a similar program last year, when the capital of four other major banks was increased by $69 billion.
Foreign direct investment (FDI) in mainland China’s economy fell by 5.7% in January to 92.01 billion yuan ($13.4 billion), according to the country’s Ministry of Commerce. The manufacturing sector attracted 26.09 billion yuan, while the service sector attracted 64.04 billion yuan. Investment in high-tech industries increased by 0.6% year-on-year to 33.75 billion yuan.
FDI from Germany to China grew by 86.6%, from Switzerland by 57.4%, and from Singapore by 10.9%.
At the same time, 5,306 new enterprises with foreign capital participation were registered in the country last month, which is 25.5% more than in January 2025.
As reported, FDI fell by 9.5% in 2025.
Chinese Foreign Minister Wang Yi, speaking on the sidelines of the Munich Security Conference, said that “the door to dialogue in Ukraine is open, and all parties should strive to reach a comprehensive and lasting peace agreement and eliminate the root causes of the conflict,” and called on Europe to be more active in peace efforts, according to a correspondent for Interfax-Ukraine.
“The doors to dialogue have finally opened on the ‘Ukrainian crisis’ (Russia’s full-scale war against Ukraine – IF-U). All interested parties should seize the opportunity to achieve a comprehensive, durable, and binding peace agreement, eliminate the root causes of the conflict, and ensure lasting peace and stability in Europe,” he said.
According to the Chinese foreign minister, Europe should not stand by and watch.
“Since the conflict broke out here in Europe, Europe has every right to participate in the negotiations at the appropriate time. Europe should not be on the menu, but at the negotiating table,” he said.
“Now we see that Europe has found the courage to negotiate with Russia. This is good, and we support it,” Wang Yi emphasized.
At the same time, in his opinion, dialogue should not be conducted for the sake of dialogue itself, and Europe should offer new ideas and new plans to resolve this issue.
” And in this process, we need to promote the creation of a more balanced, effective, and sustainable security architecture for Europe. Consequently, by doing so, we are addressing the root causes of the crisis and can prevent its recurrence. And to achieve sustainable and lasting peace, China, for its part, will fully support the peace process,” the foreign minister concluded.
He also clarified that China is not a party directly involved in the conflict, has no right to make a final decision, and is only facilitating peace talks.
Regarding relations between China and the EU, Wang Yi expressed his conviction that they should be partners, not systemic rivals or strategic competitors.
“But there are differences and disagreements between our two sides, for example, our social systems, our values, and our development models, but that is because we have different histories and cultures, and based on that, our peoples have different choices regarding the path of development. But that does not mean that we should become rivals or competitors,” the minister said.
He declared that it is more important for China and the EU to practice multilateralism, defend the authority of the UN, say “no” to unilateral practices, uphold free trade, and oppose bloc confrontation.
Information that China’s Foreign Minister Wang Yi said Ukraine is viewed as a “friend and partner” is confirmed by China’s official statements. The remark was made on February 15, 2025, during Wang Yi’s meeting with Ukraine’s Foreign Minister Andrii Sybiha on the sidelines of the Munich Security Conference, Xinhua reported.
According to Xinhua’s publication, Wang Yi noted that China and Ukraine maintain a “traditional friendship,” and that bilateral relations are based on the strategic partnership established in 2011. He also said Beijing is ready to work with Kyiv to advance bilateral relations and practical cooperation despite “unfavorable factors.”
In 2026, the topic of China–Ukraine contacts was again brought to the fore at this year’s Munich conference. Ukraine’s Foreign Minister Andrii Sybiha said on February 13, 2026, that he invited Wang Yi to visit Ukraine and stated that China could help achieve an end to the war.
