China's Industrial Profit Growth Speeds Up

 27 Aug 2016 - 17:43

China's Industrial Profit Growth Speeds Up
 

Beijing: Profits of China's major industrial firms rose 6.9 percent year on year in the first seven months of 2016, accelerating from the 6.2 percent rise registered in the first half, official data showed Saturday.
Total profits of industrial companies with annual revenues of more than 20 million yuan (USD 3 million) reached 3.52 trillion yuan during the January-July period, the National Bureau of Statistics (NBS) said in a statement.
According to China's (Xinhua) news agency, major industrial firms' profits in July alone surged 11 percent to 523 billion yuan, the second highest monthly growth this year and much faster than the increase of 5.1 percent in June. 

AA