China Industrial Profits Increase Notably

(RTTNews) - China's industrial profits increased notably in September, underpinned by robust growth in electronic and high-tech manufacturing, data published by the National Bureau of Statistics showed Tuesday.

Industrial profits logged a year-on-year growth of 14.4 percent in September, following prior month's 4.2 percent expansion.

During January to September period, industrial profits rose 15.5 percent from the same period last year but slower than the 15.7 percent rise registered in the January to August period.

Driven by demand for AI computing power and data storage, profits in high-tech manufacturing advanced almost 52 percent from the last year.