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Industrial profit growth rises on domestic demand
By Wang Yanlin |
February 3, 2012, Friday
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Online Edition
Online Edition
PROFIT growth among China's industrial companies quickened in December, indicating a stabilizing economy thanks to healthy domestic demand.
Net earnings of Chinese manufacturers expanded 31.5 percent from a year earlier to 790 billion yuan (US$125 billion) in December, the National Bureau of Statistics said today.
The data also showed that last year's manufacturing profits stood at 5.45 trillion yuan, up 25.4 percent annually and compared with the pace of 24.4 percent in the first 11 months of last year.
"China's manufacturing activities seem to gather momentum again," said Li Maoyu, an analyst at Changjiang Securities Co. "It is largely thanks to healthy domestic demand, and the profit growth is likely to be sustained amid a stabler economy."
The official Purchasing Managers' Index, a comprehensive gauge of manufacturing activities, edged up 0.2 points from a month earlier to 50.5 in January.
A reading above 50 indicates expansion and it was the second month in a row for the index to report improvement, the China Federation of Logistics and Purchasing said earlier this week.
Net earnings of Chinese manufacturers expanded 31.5 percent from a year earlier to 790 billion yuan (US$125 billion) in December, the National Bureau of Statistics said today.
The data also showed that last year's manufacturing profits stood at 5.45 trillion yuan, up 25.4 percent annually and compared with the pace of 24.4 percent in the first 11 months of last year.
"China's manufacturing activities seem to gather momentum again," said Li Maoyu, an analyst at Changjiang Securities Co. "It is largely thanks to healthy domestic demand, and the profit growth is likely to be sustained amid a stabler economy."
The official Purchasing Managers' Index, a comprehensive gauge of manufacturing activities, edged up 0.2 points from a month earlier to 50.5 in January.
A reading above 50 indicates expansion and it was the second month in a row for the index to report improvement, the China Federation of Logistics and Purchasing said earlier this week.
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