MNI 5 THINGS: China Industrial Profits Slow Further In Oct

     BEIJING (MNI) - Combined profits at China's industrial companies slowed in

October for a sixth consecutive month, data released by the National Bureau of

Statistics Tuesday showed. Here are the five things MNI highlights: 

     - October industrial profits gained 3.6% y/y to CNY548.02 billion,

continuing the downward trend after September's 4.1% y/y. Accumulated profits

for Jan-Oct rose by 13.6% y/y to CNY5.52 trillion, decelerating from the

previous 14.7% y/y.

     - The drop in October is mainly due to lower industrial product ex-factory

price gains and y/y base effects, NBS said.

     - For the first ten months of the year, just over three-quarters of profit

gains came from five industries, including steel (+63.7%), construction

materials (+45.9%), oil processing (+25.2%), the chemical sector (+22.1%) and

crude oil extraction, which, NBS said, registered 3.7 times profit growth.

     - In Jan-Oct, industrial enterprises paid CNY92.59 of costs and fees for

every CNY100 income from their main business. The costs and fees reduced by

CNY0.25 from a year earlier, the NBS said.

     - By end-Oct, the debt-to-asset ratio of large-scale industrial enterprises

tracked by the NBS was 56.7%, down 0.5 percentage point y/y. The ratio of

state-owned enterprises (SOEs) was 59%, down 1.6 percentage points y/y.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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