China industrial firms' Jan-Feb profits rise 4.8% y/y

[BEIJING] Profits earned by Chinese industrial firms in January and February rose 4.8 per cent from a year earlier, the National Bureau of Statistics (NBS) said on Sunday.

The bureau released the data on its website, adding that industrial firms saw a total profit of 780.7 billion yuan (US$119.8 billion).

The bureau always gives a combined profit figure for the first two months of each year to smooth out seasonal distortions caused by the Lunar New Year holiday, when most companies are closed for the celebrations.

REUTERS