Caixin
ECONOMY

China Industrial Profits Maintain Strong Growth

Four industrial sectors, including ferrous metals smelting and processing, accounted for more than half of the growth in domestic industrial profits in the January-October period. Photo: Visual China
Four industrial sectors, including ferrous metals smelting and processing, accounted for more than half of the growth in domestic industrial profits in the January-October period. Photo: Visual China

(Beijing) — China’s industrial companies saw their combined profits increase by 25.1% in October from a year earlier to 745.4 billion yuan ($119.9 billion), the second-highest gain since December 2011, as elevated commodity prices continued to benefit coal and other mining companies.

Earnings for the first 10 months of the year rose 23.3% year-on-year to 6.25 trillion yuan, the National Bureau of Statistics said in a statement on Monday, accelerating from a 22.8% pace in the first nine months. Revenue from main business operations rose at a much slower pace than profit, however, increasing by 12.4% year-on-year in the first 10 months, little changed from the January-September period.

You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2018 Caixin Global Limited. All Rights Reserved.