China’s industrial profit grew 25.1% year-on-year in October

Almaty. November 28. Silkroadnews - China’s industrial profit grew 25.1% year-on-year in October, Euronews channel reported.
“Profits earned by China’s industrial companies in October rose 25.1 percent from a year earlier, the statistics bureau said on Monday, slowing from a 27.7 percent gain in September. Profits rose to 745.4 billion yuan (84.8 billion pounds) in October,” the report said.
In September, profit reached the highest growth in the past six years, as prices for finished products, including steel and copper, increased. Prices jumped due to fears of supply shortages in winter, as government continued struggle against air pollution.
It is reported that in the first 10 months industrial profit increased 23.3% compared to the same period last year, and versus 22.8% growth in January-September.
The data covers large companies with annual revenues of more than 20 million yuan from their main operations.