News Column

China : China Inc's Q2 earnings bounce

September 1, 2014

The net profits of China's listed companies grew slightly faster in the second quarter in line with the country's improving economic performance, although the first half was weaker than the same time last year, an official newspaper said Monday.

Second-quarter profits grew 11.4 per cent year on year from 8.08 per cent in the first quarter, the Shanghai Securities News reported.

But year-on-year growth of 9.47 per cent in the first half of this year lagged a rise of more than 11 per cent in the first half of 2013, reflecting the longer-term slowdown in the world's second-largest economy.

China's economic growth picked up slightly in the second quarter as a burst of government stimulus paid dividends, although analysts said Beijing would likely need to offer more support to meet its annual growth target of 7.5 per cent as the property market hit hard times.

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Source: TendersInfo (India)

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