China's industrial profits up 19.1% in August, bureau says

September 28, 2020

BEIJING - Profits of China's major industrial firms totalled RMB612.81 billion (about US$90 billion) in August, up by 19.1% year-on-year, China's State newsagency, Xinhua, reported, quoting data from the National Bureau of Statistics. Growth narrowed by 0.5% from July, it said.

In the first eight months of the year, the profits of major industrial firms declined 4.4% to 3.72 trillion yuan, narrowing 3.7% from the January-July period.

Profits of State-controlled industrial firms dropped 17% from one year earlier to RMB950.94 billion, while those of private ones shrank 3.3% year on year to RMB1.07 trillion, Xinhua reported.