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China Industrial Profits Rise

China Industrial Profits RiseChina Industrial Profits Rise

Profits earned by China’s industrial firms in November rose 14.5% from a year earlier, the National Bureau of Statistics said on Tuesday, firming from October’s reading of 9.8%, Reuters reported. Industrial profits rose 9.4% in the first 11 months from the same period a year earlier, up from a 8.6% rise in the first 10 months of the year. The profit figures cover large enterprises with annual revenues of more than 20 million yuan ($2.88 million) from their main operations. The acceleration of industrial production and sales growth and a surge in factory-gate prices are the main drivers of the rosy figure, He Ping, an economist, said.

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