China's November industrial profits rise 5.4% y-o-y

[BEIJING] Profits at China's industrial firms in November grew 5.4 per cent from a year earlier to 593.9 billion yuan (S$115 billion), the National Bureau of Statistics said on Friday.

That compares with a 9.9 per cent drop in October, the biggest fall since the January-February period.

For January-November, profits were down 2.1 per cent from a year earlier at 5.61 trillion yuan, versus a 2.9 per cent decline in the first 10 months of 2019.

Liabilities at industrial firms rose 5.3 per cent at end-November from a year earlier, versus a 4.9 per cent increase as of end-October.

The data covers companies with more than 20 million yuan in annual revenue from their main operations.

REUTERS