ECONOMY | Staff Reporter, China

China industrial profits grow 21.6% in first eight months of 2017

Total profits reached US$738b.

China's industrial profits grew 21.6% to US$738b (CNY4.9t) for the first eight months of 2017.

According to the National Bureau of Statistics of China, the growth rate increased by 0.4 ppt from the first seven months.

State-owned industrial businesses gained 46.3% to US$164.9b (CNY1.1t), whilst collective-owned enterprises gained US$4.4t (CNY29.4b), up by 4.6%.

Profits of joint-stock enterprises also grew by 23.3%, foreign-funded businesses by 18%, and private enterprises by 14%.

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