Follow us on:   

China industrial profits rise in July
August 27, 2013, 8:07 am

[Xinhua]

Major Chinese industrial firms posted combined profits of 11.6 per cent year on year in July [Xinhua]

China’s National Bureau of Statistics (NBS) released new data on Tuesday that further indicates the country’s economy is stabilising.

Major Chinese industrial firms posted combined profits of 11.6 per cent year on year in July, up from the 6.3 per cent rate in June.

The profits of industrial companies with annual revenues of more than 20 million yuan ($3.24 million) hit 419.55 billion yuan in July, added the NBS in a statement.

Profits from industrial companies also rose 11.1 per cent to three trillion yuan in the first seven months of 2013.

The state statistics bureau said on Monday that the Chinese economy is showing clear signs of stabilisation, aided by government policy and some improvement in global demand.

Tuesday’s data comes after a string of other positive economic indicators, from factory output and retail sales to foreign trade.

Source: Agencies

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.