Business
12:15, 27-Sep-2018
China's industrial profits up 16.2 pct in Jan.-Aug.
Updated
11:58, 30-Sep-2018
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Profits of China's major industrial firms grew 16.2 percent in the first eight months of 2018, down from the 17.1 percent expansion for the January to July period, the National Bureau of Statistics said Thursday.
In August alone, profits of China's major industrial firms increased 9.2 percent, down 7 percentage point compared to last month, hitting a new low since this March.
In addition, fruitful results have been seen in China's supply side reform with lower costs and leverage ratio, according to He Ping, an official from the industrial division of the National Bureau of Statistics.
Profits of China's consumer goods and hi-tech manufacturing sectors showed significant growth during the January to August period, with the former up 8 percent and the latter up 6.4 percent compared to the January to July period.
Source(s): Xinhua News Agency