China Industrial Profit Growth Speeds Up in August

SHANGHAI, Sept. 27 (SMM) – China’s industrial profit rose at a faster pace in August.

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Profit totaled 671.97 billion yuan at above designated-size Chinese industrial enterprises in August, up 24% from a year ago, versus 16.5% growth in July.

The figure increased 21.6% year-on-year to 4.92 trillion yuan during January-August, versus 21.2% growth during January-July.

Higher industrial product prices and lower production costs helped drive the profit growth, the National Bureau of Statistics said.    

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