China Aug Industrial Profit Growth Rate Highest in 4 Yrs: NBS

     BEIJING (MNI) - Combined profits at Chinese industrial companies rose 24%

y/y in August to CNY671.97 billion, the National Bureau of Statistics said

Wednesday. 

     That compared with an increase of 16.5% y/y in July, the bureau said.

     The headline growth rate in August was the highest since August 2013 when

it was recorded at 24.2%.

     For the first eight months of this year, total profits rose 21.6% y/y to

CNY4.92 trillion. The growth rate was 0.4 percentage point higher than the 21.2%

gain in January-July period.

     Here with major breakdowns for industrial profits in first eight months:

     --State-owned enterprise profits rose 46.3% y/y to CNY1.08 trillion,

compared with 44.2% growth in the first seven months of the year.

     --Share-issuing enterprise profits rose 23.3% y/y to CNY3.46 trillion,

compared with 22.9% growth in the first seven months of the year.

     --Mining industry profits rose 5.9 times to CNY324.9 billion, compared with

a growth rate of 7.9 times in January to July.

     --Manufacturing industry profits rose 18.6% y/y to CNY4.32 trillion,

compared with 18.1% growth in the first seven months of the year.

     --Power production industry profits fell 22.6% y/y to CNY274.1 billion,

compared with 25.3% growth in the first seven months of the year.

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

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