China industrial profits rise to 626b yuan in May; but will fade as finance costs kick in
With producer price inflation reaching its peak, gains are expected to see attrition later in the year
Beijing
PROFITS at China's industrial companies surged 16.7 per cent in May from a year earlier, accelerating from April and defying expectations of a slowdown in the face of rising borrowing costs and a cooling property market.
Profits in May rose to 626 billion yuan (S$127.46 billion), the National Bureau of Statistics (NBS) said on its website on Tuesday.
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