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August 9, 2017

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Profits increase

China’s machinery sector reported better-than-expected performance in the first half of 2017 although high costs and financing difficulties continue to weigh on profits.

Profits of machinery makers totaled 857.6 billion yuan (US$127.6 billion) during January-June, up 14.69 percent year on year, according to the China Machinery Industry Federation.

The main business revenue came in at 12.51 trillion yuan, up 11.6 percent from the same period last year.

But high labor and logistics costs, and financing difficulties were still problems for the industry, Chen added.


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