The profits of industrial enterprises above designated size in Huzhou expanded 31.6 percent year-on-year to 28.33 billion yuan ($4.36 billion) from January to August, according to the Huzhou municipal bureau of economy and information technology.

Enterprises in 31 out of 33 major industries in the city generated profits. The profit margin of pharmaceutical enterprises above designated size stood at 46 percent.

A head official from the Huzhou municipal bureau of economy and information technology pointed out that it has not been easy maintaining profitability in light of negative factors such as shortage of containers and labor, and increased costs of raw materials.

The good results are primarily due to local authorities' sustained efforts in helping companies relieve financial burdens and seek digital transformation.

The city has launched an online app through which local companies can request for help from the local government.

Over the eight-month period, the added value of industrial enterprises above designated size in Huzhou amounted to 80.63 billion yuan, up 20 percent year-on-year.

Robust growth was seen in strategic emerging industries and the equipment manufacturing industry, which registered increases of 25.9 percent and 25.7 percent in added value respectively during the period.