In­dus­trial profit growth ac­cel­er­ates to 14.5%

China Daily (Canada) - - NEWS CAPSULE -

Prof­its of China's ma­jor in­dus­trial firms in­creased 14.5 per­cent year on year in Novem­ber, up from 9.8 per­cent reg­is­tered in Oc­to­ber, of­fi­cial data showed Tues­day.

Prof­its of in­dus­trial com­pa­nies with an­nual rev­enues of more than 20 mil­lion yuan ($2.87 mil­lion) to­taled 774.57 bil­lion yuan last month, the Na­tional Bureau of Sta­tis­tics said.

In the first 11 months of the year, in­dus­trial prof­its ex­panded 9.4 per­cent year on year to 6.03 tril­lion yuan, faster than the 8.6 per­cent rise for the first ten months, the NBS said.

NBS statis­ti­cian He Ping said the sharp growth in Novem­ber was a re­sult of ac­cel­er­a­tion in the growth of both in­dus­trial pro­duc­tion and sales, a sig­nif­i­cant rise in pro­ducer prices and the strong per­for­mance of elec­tron­ics, spe­cial equip­ment man­u­fac­tur­ing and oil re­fin­ing sec­tors.

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