A worker attends a textile machine inside a silk textile factory in Shaoxing, East China's Zhejiang Province. File photo: VCG

China's industrial profit grew 92.3 percent year-on-year in March, gaining recovering momentum from the COVID-19 epidemic impact despite some global economies are still grappling with the pandemic.

In the first three months, profits from enterprises above designated size jumped 1.37 times to 1.825 trillion yuan ($281.2 billion), up 50.2 percent compared with the January-March period in 2019, data released by the National Bureau of Statics (NBS) showed on Tuesday.

That translated to an annual growth rate of 22.6 percent in recent two years.

In breakdown, the mining industry achieved a total profit of 151.9 billion yuan, gaining 77.1 percent year-on-year, while the manufacturing sector's profit surged 1.58 times to 1.54 trillion yuan. 

In the first quarter, profit growth in the raw material manufacturing sector has driven the overall industrial profit expansion, NBS said. Raw material industrial profit soared 4.34 times year-on-year in the first three moths, which translated to an average growth rate of 40.7 percent - 18.1 percentage points? higher than the overall industrial profit growth. 

The first-quarter profit growth across the raw material sector has accelerated 88.5 percentage points from the January-February period, thanks to rising big commodity price and warming-up demands.

Looking ahead, NBS said that the country needs to further consolidate the industrial firms' recovering foundations, as uncertainties still hang over the global pandemic situation and international environment, and increasing raw material prices also add up companies' cost.