Analysts said the nation's newly-announced policy package to bail out businesses will help sustain the revival in industrial profits, with sectors related to the economic upgrade set to outperform.

The fall in profits of major industrial firms in China narrowed for the second consecutive month and stood at 4.3 percent on a yearly basis in April, substantially recovering from the 34.9 percent plunge a month earlier.

Total industrial profits in the first four months of the year stood at 1.26 trillion yuan ($176 billion), down more than a quarter from a year earlier, according to the NBS.

Zhu Hong, a senior NBS statistician, said production and sales accelerated last month as the nation's economic order further normalized from the COVID-19 disruption, leading to a drastic improvement in corporate earnings.

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