China Industrial Profits Growth Rises

(RTTNews) - China's industrial profits increased at a faster pace in the January to July period, data from the National Bureau of Statistics showed on Tuesday.

Industrial profits posted an increase of 3.6 percent in the first seven months of 2024. This was slightly faster than the 3.5 percent growth registered in the January to June period.

The annual growth was largely driven by the profits at high-tech manufacturing and equipment manufacturing companies.

In the month of July, industrial profits advanced 4.1 percent from the same period last year. Nonetheless, the pace was weaker than June's 3.6 percent increase.