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Industrial profits expand for the first time in 7 months
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PROFITS of China's industrial companies expanded for the first time in seven months in April, sending positive signals of stabilization in the world's second-largest economy.
Net earnings of manufacturers amounted to 479.5 billion yuan (US$77.3 billion) last month, up 2.6 percent from a year earlier, according to the National Bureau of Statistics today.
That reversed the drop of 0.4 percent in March.
In the first four months, profits of industrial companies still fell 1.3 percent to 1.73 trillion yuan.
He Ping, a researcher at the bureau, said stabilizing production and sales in the manufacturing sector has helped the rebound of profits.
In April, industrial production rose 5.9 percent, 0.3 percentage points faster than that in March. Sales in the sector gained 0.6 percent, up from the pace of 0.5 percent in the previous month.
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