China’s Industrial Profits Climb, Showing Manufacturing Strength
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Profits at Chinese industrial firms grew at a faster pace in June, showing the resilience of the manufacturing sector which has helped cushion an economic slowdown.
Profits rose 3.6% in June from a year earlier, according to data released by the National Bureau of Statistics on Saturday. That compared with a year-on-year rise of 0.7% the month before. For the first half of the year, it climbed 3.5% to 3.5 trillion yuan ($484 billion).