China Sep. Industrial Profits Growth Accelerates To 27.7% Y/Y

     BEIJING (MNI) - Combined profits at Chinese industrial companies rose 27.7%

y/y in September to CNY662.18 billion, the National Bureau of Statistics said

Friday. 

     September profits growth accelerated from an increase of 24.0% y/y in

August.

     For the first nine months of this year, total industrial profits rose 22.8%

y/y to CNY5.58 trillion. The growth was 1.2 percentage point higher than the

21.6% gain in Jan-Aug period.

     Here are sub-category breakdowns for industrial profits in the first nine

months:

     --State-owned enterprise profits rose 47.6% y/y to CNY1.26 trillion,

compared with 46.3% growth in the first eight months of the year.

     --Share-issuing enterprise profits rose 24.6% y/y to CNY3.91 trillion,

compared with 23.3% growth in the first eight months of the year.

     --Mining industry profits rose 4.7 times to CNY369.2 billion, compared with

a growth rate of 5.9 times in January to August.

     --Manufacturing industry profits rose 19.6% y/y to CNY4.90 trillion,

compared with 18.6% growth in the first eight months of the year.

     --Power production industry profits declined 18.3% y/y to CNY317.0 billion,

compared with 22.6% decrease in the first eight months of the year.

--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com

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

[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]