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BUSINESS & TECH

Industrial Profits Show Steady Growth

An industrial enterprise’s production workshop is seen in Weifang, Shandong province, on March 31. Photo: VCG
An industrial enterprise’s production workshop is seen in Weifang, Shandong province, on March 31. Photo: VCG

China’s industrial profits jumped in May despite the looming possibility of an economic slowdown later in the year.

Industrial profit rose 21.1% year-on-year in May, slightly lower than the increase during the rebound month of April, according to data from the National Bureau of Statistics (NBS). However, growth remained substantial enough to increase cumulative industrial profits for the first five months of the year to an annual rate of 16.5%.

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