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Chinese Industrial Profits at Four-Year High

Economy

At 672 billion yuan ($101.21 billion), annual growth in profits at Chinese industrial firms surged to 24% in August, the largest year-on-year increase since August 2013, according to National Bureau of Statistics data. The robust growth last month was mainly driven by higher commodity prices, particularly in oil and steel. Industrial profits in January-August rose by 21.6% on the same period in 2016 to 4.92 trillion yuan.