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Profits at China industrials fall 1.7% in June
By Richard Fu |
July 27, 2012, Friday
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Online Edition
Online Edition
PROFITS at China's industrial companies fell 1.7 percent in June from a year earlier, slowing from May's 5.3 percent drop and indicating that economic activity may be stabilizing, official data showed today.
Major Chinese factories made combined profits of 468.2 billion yuan (US$73.3 billion) in June, the National Bureau of Statistics reported today.
Industrial profit fell 2.2 percent in the first half of the year to 2.31 trillion yuan, easing from a decline of 2.4 percent in the January-May period, the bureau said.
The Ministry of Industry and Information Technology said this week that there are signs from the industrial sector that the economy has started to stabilize after the government stepped up policy easing and stimulus measures.
The statistics bureau's survey covers industrial companies with annual sales of 20 million yuan or more.
Major Chinese factories made combined profits of 468.2 billion yuan (US$73.3 billion) in June, the National Bureau of Statistics reported today.
Industrial profit fell 2.2 percent in the first half of the year to 2.31 trillion yuan, easing from a decline of 2.4 percent in the January-May period, the bureau said.
The Ministry of Industry and Information Technology said this week that there are signs from the industrial sector that the economy has started to stabilize after the government stepped up policy easing and stimulus measures.
The statistics bureau's survey covers industrial companies with annual sales of 20 million yuan or more.
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