China's Industrial Profit Growth Speeds Up

Profits of China's major industrial firms rose 6.9% year on year in the first seven months of 2016, accelerating from the 6.2% rise registered in the first half, official data showed Saturday.

Total profits of industrial companies with annual revenues of more than 20 million yuan (3 Million U.S. Dollars) reached 3.52 Trillion Yuan during the January-July period, the National Bureau of Statistics (NBS) said in a statement carried by Xinhua news agency.

In July alone, their profits surged 11% to 523 Billion Yuan, the second highest monthly growth this year and much faster than the increase of 5.1% in June. 

Source : QNA