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China industrial profits rise 15%
November 28, 2013, 5:54 am

Private businesses led growth, says official data [Xinhua Images]

Private businesses led growth, says official data [Xinhua Images]

Chinese industrial businesses saw their profits rise 15.1 per cent year on year in October, slowing from 18.4 per cent in September, official data showed on Thursday.

Total profits of industrial companies with annual revenues of more than 20 million yuan ($3.3 million) reached 581 billion yuan in October, the National Bureau of Statistics (NBS) said in a statement.

In the first 10 months, their profits rose 13.7 per cent from the same period last year to 4.63 trillion yuan, accelerating from 13.5 per cent in the first nine months.

Among the 41 industries surveyed, 35 posted year-on-year profit growth during the January-October period, 5 saw their profit decline, while the oil refining, coking and nuclear fuel processing sector turned losses into gains, the NBS said.

Private businesses led the growth, with their combined profits up 17.5 per cent year on year in the first 10 months, while state-run enterprises saw profits up 9.1 per cent during the period.


Source: Agencies

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