MNI: China Industrial Profit Growth Eases in October: NBS

     BEIJING (MNI) - Combined profits at Chinese industrial companies rose 25.1%

year-on-year in October to CNY745.41 billion, the National Bureau of Statistics

said Monday. 

     That compared with an increase of 27.7% y/y in September, the highest since

data on industrial profits became available in February 2012, according to Wind

Information.

     For the first ten months of this year, total profits rose 23.3% y/y to

CNY6.25 trillion. The growth rate was 0.5 percentage point higher than the 22.8%

gain in the January-September period.

     Major sub-category breakdowns for industrial profits in the first ten

months:

     --State-owned enterprise profits rose 48.7% y/y to CNY1.41 trillion,

compared with 47.6% growth in the first nine months of the year.

     --Share-issuing enterprise profits rose 25.3% y/y to CNY4.37 trillion,

compared with 24.6% growth in the first nine months of the year.

     --Mining industry profits rose 4.1 times to CNY411.16 billion, compared

with a growth rate of 4.7 times in January to September.

     --Manufacturing industry profits rose 20.1% y/y to CNY5.48 trillion,

compared with 19.6% growth in the first nine months of the year.

     --Power production industry profits fell 16.3% y/y to CNY349.14 billion,

compared with a 18.3% decrease in the first nine 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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