China Industrial Profit Growth Slows in July: NBS

     BEIJING (MNI) - The combined profits of Chinese industrial companies rose

16.5% y/y in July to CNY612.67 billion, the National Bureau of Statistics

reported Sunday. 

     The growth rate slowed from the increase of 19.1% posted in June, according

to NBS data.

     For the first seven months of this year, total profits rose 21.2% y/y to

CNY4.248 trillion. That growth rate was 0.8 percentage point lower than the

22.0% gain in the first half this year.

     Here with major breakdowns for industrial profits by sector in the first

seven months:

     --State-owned enterprise profits rose 44.2% y/y to CNY9.274 trillion,

compared with 45.8% growth in the first half of the year. 

     --Share-issuing enterprise profits rose 22.9% y/y to CNY2.991 trillion,

compared with 23.6% increase in the first half of the year. 

     --Mining industry profits rose 7.9 times to CNY2.796 trillion, compared

with a growth of 13.4 times in the first half of the year. 

     --Manufacturing industry profits rose 18.1% y/y to CNY3.741 trillion,

compared with a growth of 18.5% in the first half of the year. 

     --Power production industry profits decreased 25.3% y/y to CNY2.273

trillion, compared with a drop of 28.2% in the first half of the year. 

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

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

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