China August industrial profits rise 19.5% y-o-y

[BEIJING] Profits earned by China's industrial firms in August rose 19.5 per cent from a year earlier, the statistics bureau said on Tuesday.

Profits in August rose to 534.8 billion yuan (S$109.1 billion), the National Bureau of Statistics (NBS) said on its website.

Industrial profits rose 8.4 per cent in the first eight months from the same period a year earlier, compared with a 6.9 per cent rise in the first seven months of this year.

Chinese industrial firms' liabilities at the end of August were 4.6 per cent higher than at the same point last year.

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

REUTERS