Business & Finance

China Jan-Aug industrial profits up 28.2pc

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The growth marked a slight slowdown from the 28.3 percent in the first seven months and 28.7 percent in the first half.

The statistics agency said profitability in oil exploration, ferrous metal mining, non-ferrous metal processing were particularly strong.

But the petrochemical and coking sector reported a fall of 85.3 percent in profits in the first eight months. The figures cover industrial firms with annual sales above 20 million yuan.

Copyright Reuters, 2011