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China Industrial Profits Up on Stronger Recovery: Daily

CHINA PRESS
MNI (Sydney)

Profits at China's major industrial companies rose 19.6% y/y to CNY589.5 billion in July, the third month of annual gains, led by sales of automobiles and electronics, the Economic Information Daily reported. The Daily's report cited data from the National Bureau of Statistics of China, which showed that the July gains came after an increase of 11.5% y/y in June as the economy continued its recovery. Profits at mining and raw material producers, however, face greater cash flow pressure as account receivables rose and profits declined, according to the Bureau.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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