Chinese industrial businesses saw their profits rise by 11.4 per cent year-on-year in the first half of this year, official data showed on Sunday.
According to the
The profits growth was markedly up from the less than 10-per cent increase recorded in the first five months. The faster-than-expected growth pace was due to strong growth in June, when industrial firms raked in
He Ping, statistician at the NBS, attributed the increase to rising sales and dropping costs of industrial firms in June and admitted that the low base in the same period last year also contributed to the high growth. In the January-June period, profits of foreign-funded enterprises and companies with funds from
State-owned and state-holding industrial enterprises amounted to
By sector, industrial enterprises in mining industry reached profits of
Out of the total 41 industrial sectors, profits of 35 sectors rose, one remained flat and five dropped in the first half from the same period last year.
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