The National Bureau of Statistics (NBS) said on Sunday that China's industrial businesses have registered revenue of more than 1.3 trillion yuan (US $207 billion) in the first three months of this year, a 10.1 percent increase from a year ago.

The first quarter industrial growth was accelerated by the good performance in March, when industrial business profits reached 513.2 billion yuan (US $82 billion) partly due to the rebounded profitability in the country's telecommunication sector, the NBS said.

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Profits of private firms in China also increased the fastest in the first three months of the year to reach 419.1 billion yuan (US $67 billion) while state-owned and state-holding industrial firms recorded 2.9 percent profit growth to 354.8 billion yuan (US $56.7 billion).

The NBS data released on Sunday showed that most of the industrial profits earned in January to March were made in just a few sectors, including car manufacturing, telecom equipment production, and power and heat generation.

The NBS said industrial enterprises in the mining industry registered the slowest profit growth in the first quarter with just 168.5 billion yuan (US $26 billion), or 15.1 percent lower than the profit they registered in the same quarter of last year.

Companies in the manufacturing sector enjoyed the biggest profit rise in the first quarter, which was 1 trillion yuan (US $159 billion, or 13.9 percent increase from a year ago.

The industrial profit rise was registered on the same quarter that China's economy has surpassed estimates. The country's GDP grew 7.4 percent to US $2.08 trillion in the first quarter, slightly higher from market estimates of 7.3 percent.

Economists, however, cautioned that China's economy continues to experience downward pressure and that the government must immediately implement targeted measures to keep the GDP figures within a proper range.

The 7.4 percent first quarter GDP growth was slower than the 7.7 percent growth registered in the last quarter of 2013.