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China industrial profits rise 6.2% y/y in H1


07-27-2016 11:24 BJT

China's industrial profits rose 6.2 percent in the first half of the year, though at slower rate mainly due to the large growth in March. In June, industrial profits grew 5.1 percent year on year, faster than the 3.7 percent growth in May.

June profits in electronics, steel and petroleum processing sectors increased the most, despite a slower growth in the steel sector. Oil exploitation and electricity reaped less.

China's National Bureau of Statistics said industrial output and sales have been increasing at a faster speed, and prices were falling at a smaller rate.

Inventories were decreasing, and enterprise debts were falling. However, the bureau said enterprises still faced difficulties in accessing capital in June.

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