China’s industrial profit increased to 27.7% in September

Almaty. October 27. Silkroadnews - China’s industrial profit increased to 27.7% in September, Singapore’s The Straits Times reported.
“Profits earned by China’s industrial firms in September surged 27.7 per cent from a year earlier, accelerating from a 24 per cent rise in August. Industrial profits increased 22.8 percent in the first nine months of 2017 from the same period last year, versus a 21.6 per cent rise in January-August,” the report said.
At the same time, it is noted that the profits in the industrial sector increased especially as the construction boom not only boosted the demand, but also raised the producers’ prices providing for the strongest profit in years and giving “more room to start tackling a mountain of debt”.
According to the National Bureau of Statistics, the total profit in September rose to 662.18 billion yuan.
The data cover large companies with annual revenues of more than 20 million yuan from their core activities.