China’s August industrial profit grew 24% compared to last year

Almaty. September 27. Silkroadnews – China’s August industrial profit grew 24% compared to last year, Business Times reported.
“Profits earned by China’s industrial firms in August rose 24 per cent from a year earlier, the statistics bureau said on Wednesday, accelerating from the 16.5 per cent gain in July,” the agency wrote.
According to China’s National Bureau of Statistics, industrial profit rose 21.6% over the first eight months of 2017 compared to the same period of last year. Data for January-July showed an increase of 21.2%. Total profit in August rose to 672 billion yuan ($137.3 billion).
Liabilities of Chinese industrial enterprises increased 6.4% compared to the previous year as of the end of August, compared with a 6.6% increase in the first seven months of this year. The data covers large companies with annual revenues of more than 20 million yuan from core operations.