China's Industrial Profits Growth Slows Further

BEIJING, Dec. 27  -- China's industrial enterprises posted a year-on-year profits growth of 24.4 percent in the first 11 months of 2011, pulling back further from the year's previously recorded figures, official data showed Tuesday.

Growth in the January-November period was 0.9 percentage points lower from that of the first ten months, according to data from the National Bureau of Statistics (NBS).

Total profits realized in the first 11 months amounted to 4.66 trillion yuan (736 billion U.S. dollars), the NBS said.

The NBS compiled the figures using the data collected from a pool of industrial businesses with at least 20 million yuan in annual sales revenues each.

In November alone, industrial profits expanded 17.9 percent year-on-year to 542.1 billion yuan, the NBS said.