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China’s industrial profits rise 2.6 pct in July

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Photo taken on Feb. 24, 2017 shows workers carrying a monocrystalline silicon stick at a factory in Ningjin County, north China's Hebei Province. (Xinhua/Mu Yu)

BEIJING (Xinhua) – The profits of China’s major industrial firms rose 2.6 percent year on year in July, data from the National Bureau of Statistics (NBS) showed yesterday.

This is a drastic rebound compared to the 3.1-percent decline in June.

In the first seven months, the profits of China’s major industrial firms dropped 1.7 percent to 3.5 trillion yuan ($494.03 billion) and the decrease rate was 0.7 percentage points lower than that in the first half year.

Specifically, profits of state-owned industrial firms dropped 8.1 percent from one year earlier to 1.08 billion yuan, while those of private ones gained 7 percent to 884.91 billion yuan year on year in the first seven months.

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