China Industrial Profit Growth Recovers to 6.2 Pct in H1

(Beijing) - Profits of industrial companies in China rose 6.2 percent to almost 3 trillion yuan, or US$450 billion, in the first half of 2016 from a year earlier, recovering from a 0.7 percent contraction in the same period in 2015, the National Bureau of Statistics (NBS) said.

The pace of profit growth has edged up. In June alone, industrial companies reported a 5.1 percent growth in revenue compared to last June, while the figure in May rose 3.7 percent, NBS data released on June 27 showed.