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Chinese Industrial Profits Increase


Profits at Chinese industrial firms rose by 16.7% year-on-year in May to 626.0 billion yuan, according to the country’s National Bureau of Statistics (NBS). This contributed to annual growth of 22.7% in industrial profits in the first five months of 2017 to 2.9 trillion yuan. The NBS cites sharp increases in returns in the coal mining and steelmaking sectors, where profits were up by 87.7% and 93.5% year-on-year in January-May , respectively, as contributing factors to this expansion.