Business     

China industrial profit growth slowing

Xinhua, November 28, 2011

• China's industrial enterprises saw their profits increase 25.3 percent year-on-year in the first ten months of 2011, slowing down from the year's previously recorded figures, official data showed Sunday.

  Growth in the January-October period was 1.7 percentage points lower from that of the first three quarters, the National Bureau of Statistics (NBS) said in a statement.

  It marked a gradual downshift from the 34.3-percent year-on-year growth seen during the January-February period and the 28.7-percent growth seen during the first half of the year.

  Profits realized in the first ten months amounted to 4.12 trillion yuan (650 billion U.S. dollars), the NBS said.

  The NBS compiled the figures using data collected from a pool of industrial businesses with at least 20 million yuan in annual sales revenues each.

  In October alone, industrial profits expanded 12.5 percent year-on-year to 438.3 billion yuan, the NBS said.

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