China’s Industrial Profits Rise 28.3%, Supporting Expansion
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Chinese industrial companies’ profits rose 28.3 percent in the first seven months from a year earlier, helping to support the expansion of the world’s fastest-growing major economy.
Net income climbed to 2.8 trillion yuan ($438 billion), the National Bureau of Statistics said on its website today. That compares with a 28.7 percent gain from January through June. Profit for the nation’s industrial companies was 2.4 trillion yuan in the first half.