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China's Industrial Profits Surge In October

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investorsdiurnal business news magazine

(RTTNews) – China’s industrial profits expanded strongly in October as the economy showed signals of robust rebound from the coronavirus driven downturn, data from the National Bureau of Statistics showed Friday.

Industrial profits advanced 28.2 percent on a yearly basis in October. This was the sixth consecutive rise in profits.

During January to October period, industrial profits gained 0.7 percent from the same period last year.

Data revealed that profits of state-owned enterprises decreased 7.2 percent annually, while that of private firms climbed 1.1 percent in ten months ended October.