China June industrial profits rise 5.1% year-on-year
[BEIJING] Profits earned by China's industrial firms rose 5.1 per cent in June from the year earlier, quickening from May and suggesting a government spending spree is helping steady the economy.
Profits in June rose to 616.31 billion yuan (S$125.4 billion), the statistics bureau said on Wednesday. Profits in the mining sector fell 83.6 per cent in the first half from a year earlier, the National Bureau of Statistics (NBS) said.
Industrial profits rose 6.2 per cent in the first half from the same period a year earlier, compared with a 6.4 per cent rise in the January-May period.
Chinese industrial firms' liabilities at the end of June were up 4.6 per cent from a year ago.
The data covers large enterprises with annual revenues of more than 20 million yuan from their main operations.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
HSBC says growing Chinese wealth fuels client investments in US
Discussion on EU-Asean FTA has shifted towards cooperation in specific areas: DPM Heng
US core capital goods orders rise moderately in March
Chinese tourists are again embracing international travel
Abu Dhabi raises US$5 billion with first eurobonds in three years
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official