China industrial profits rise to 626b yuan in May; but will fade as finance costs kick in
With producer price inflation reaching its peak, gains are expected to see attrition later in the year
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Beijing
PROFITS at China's industrial companies surged 16.7 per cent in May from a year earlier, accelerating from April and defying expectations of a slowdown in the face of rising borrowing costs and a cooling property market.
Profits in May rose to 626 billion yuan (S$127.46 billion), the National Bureau of Statistics (NBS) said on its website on Tuesday.
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