China's Dec industrial profits grow 4.2% y-o-y

[BEIJING] Profits at China's industrial firms grew at a slower pace in December, the statistics bureau said on Thursday.

Profits rose 4.2 per cent on-year in December, compared with a 9 per cent gain reported in November.

For 2021, industrial firms' profits rose 34.3 per cent year-on-year, versus a 38.0 per cent rise in the first 11 months of last year, the statistics bureau said.

The industrial profits data covers large firms with annual revenues of over 20 million yuan (S$4.3 million) from their main operations. REUTERS