Compared with the first ten months of 2019, the figure from January to October represented a rise of 43.2 percent, according to NBS data.
Zhu Hong, a senior NBS statistician, said in a statement that production conditions and profits had improved steadily with the implementation of measures to maintain supply, stabilize prices and help companies relieve difficulties.
"The profit growth of the mining industry and the raw material manufacturing industry has accelerated significantly," said Zhu, noting the former increased nearly threefold compared to October last year.
However, the profit differentiation between the upstream and downstream industries has not improved significantly, said Zhu, who noted that the costs of some downstream industries remain under pressure.
"The downward pressure on industrial enterprises' profitability still exists," he said.