This aerial panoramic photo taken on Jan. 10, 2023 shows a view of Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China's Shanghai. [Photo/Xinhua]

Companies listed on China's A-share market demonstrated stable performance in the first half of 2024, underscoring the resilience and innovation-driven growth of the Chinese economy.

According to data from the China Association for Public Companies, these listed companies reported combined operating revenue of 34.89 trillion yuan (4.91 trillion U.S. dollars) during the period and net profits totaling 3.13 trillion yuan.

Nearly 80 percent of the listed companies were profitable, with 17 out of 19 industry categories recording profits and eight showing net profit growth.

"The overall performance of A-share listed companies remained relatively stable in the first half of the year, signaling the resilience and recovery trajectory of China's economy," said Tian Lihui, a finance professor at Nankai University.

Emerging technologies such as artificial intelligence (AI), big data, and the Internet of Things have rapidly developed, offering new growth opportunities for sectors like consumer electronics and semiconductors. Listed companies in these two sectors reported revenue growth of around 20 percent respectively.

The AI industry also contributed to growth in the telecommunications sector, which saw an overall net profit increase of more than 6.6 percent among listed companies in the first half of 2024.

Within the telecommunications sector, companies related to optical modules and data centers experienced net profit growth of over 130 percent and over 10 percent, respectively.

Wu Chaoze, an analyst at China Securities, noted that demand for AI-related infrastructure, such as optical modules and data centers, remains strong, leading to improved performance for companies in these areas.

China's commitment to high-quality development has driven the trend toward green and low-carbon growth. The new energy vehicle sector continued to thrive, with strong production and sales leading to revenue growth exceeding 20 percent and net profit growth surpassing 30 percent in listed companies.

Recent policies aimed at boosting domestic demand, such as the consumer goods trade-in program, have positively impacted business sentiment in the consumer electronics, textiles and apparel, and automotive sectors. Listed companies in the auto industry reported revenue growth of more than 8 percent and net profit growth exceeding 20 percent.

During this period, listed companies also increased their research and development (R&D) investments in new technologies and products, with total R&D spending rising 1.3 percent year-on-year to 750 billion yuan in the first six months, continuing a growth trend.