China’s Industrial Profits Up 3.6% in January-July

Profits of China's major industrial companies rose 3.6% year-on-year in the first seven months of the year, official data from the National Bureau of Statistics showed. The growth rate accelerated from a 3.5% growth in the June-January period, according to the National Bureau of Statistics. The combined profits of industrial companies with business revenues of at least 20 million yuan (about $2.81 million) reached 4.099 trillion yuan in the first seven months. In July alone, profits at major industrial firms rose 4.1% from the same period last year, according to China's National Bureau of Statistics. Source: Oman News Agency