China's June industrial profits rise 20% y-o-y

[BEIJING] Profits at China's industrial companies in June rose 20 per cent from a year earlier, the statistics Bureau said on Friday, versus 21.1 per cent gain in May.

Industrial profits increased 17.2 per cent in the first six months of 2018 from same period last year, versus a 16.5 per cent increase in the January-May period.

Total profits in June totalled 658.29 billion yuan, according to the National Bureau of Statistics (NBS).

By the end of June, industrial firms' liabilities grew 6.6 per cent from a year earlier to 61.9 trillion yuan (S$12.38 trillion), compared with an increase of 6.3 per cent at the end of May.

The data covers large enterprises with annual revenues of more than 20 million yuan from their main operations.

REUTERS