China's Industrial Profits Growth Softens

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

Industrial profits posted an annual growth of 3.4 percent in the first five months of the year, the National Bureau of Statistics reported. This compares to the 4.3 percent growth seen in the January to April period.

The equipment manufacturing sector provided the largest contribution to the overall increase.

In May, profits at large companies advanced only 0.7 percent annually, after expanding 4.0 percent in the previous month.