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Industrial profits improve in January-July
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Chinese industrial businesses saw faster growth in profits in the first seven months this year, with a year-on-year increase of 11.7 percent during the period, official data showed on Thursday.
Total profits of industrial companies reached 3.34 trillion yuan (US$542 billion), with the growth accelerating 0.3 percentage points from the January-June period, the National Bureau of Statistics said.
In July alone, industrial companies reaped combined profits of 482.33 billion yuan, which were 13.5 percent larger than a year ago. But the 13.5-percent growth in July was 4.4 percentage points lower than that in June.
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