Business & Finance
China Jan-May industrial profits rise 27.9pc y/y
BEIJING : Industrial profitability across China rose 27.9 percent in the first five months of 2011 from a year earlier t
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The growth marked a slight slowdown from an annual increase of 29.7 percent in the first four months.
The statistics agency noted that profits in the chemical fibre industry leapt 57 percent from a year earlier, while ferrous metal mining companies posted a 56 percent jump in earnings.
But several industries reported lower profits in the same period, the agency said in a statement.
Profits in the petroleum refinery, coking and nuclear fuel processing industry slumped 51 percent from a year earlier, while profits of firms in the ferrous metal smelting and rolling sector fell 1.1 percent from a year earlier.
Copyright Reuters, 2011