China’s industrial profit grew 9.8% in October

Almaty. November 28. Silkroadnews – China’s gross industrial profit rose by 9.8% this October compared to the same month of the last year, in September it amounted to 7.7%, “Xinhua” agency writes.

According to the National Bureau of Statistics of China, the October industrial profit growth was explained by increase in sales revenues, rise in prices by producers and growth of profit by chemical and coal industries, as well as manufacturing of general-purpose equipment.

Last month, earnings from economic activities of industrial enterprises which annual revenues from the core business exceed 20 million yuan ($2.89 million) increased by 5.4 compared to October 2015, the growth rates turned to be 1.5 percentage points higher than in September of this year.

In October the Chinese producer price index (PPI) measuring changes in wholesale prices for goods and services continued to grow and increased by 1.2% year-on-year, in September an increase made 0.1%.

In the first ten months of this year the gross industrial profit of China increased by 8.6% compared to the same period of last year; in January-September growth totaled 8.4%