MNI: China Industrial Profits Continue Sound Growth Rate

     BEIJING (MNI) - Combined profits made by China's industrial companies from

January to July rose 17.1% from the same period a year ago to CNY3.90 trillion,

the National Bureau of Statistics reported on Monday. This and the increase of

17.2% y/y in Jan-Jun mark the two highest increases so far in 2018.

     Industrial profits for July rose by 16.2% y/y to CNY515.12 billion, slowing

down from the 20.0% y/y growth recorded in June.

     The increase was led by the ongoing supply-side reform and a quicker

turnover of inventory, the bureau said. 

     Among 41 industries, 32 industries, including most mining and

manufacturing, saw profits rise y/y, while 9 saw profits decline.

     Here are the subcategory breakdowns of the Jan-Jul industrial profits:

     --State-owned enterprises' profits rose 30.5% y/y to CNY1.19 trillion,

compared with a 9.8% increase in Jan-Jun.

     --Publicly listed companies' profits rose 21.3% y/y to CNY2.78 trillion,

compared with a 21.0% rise in Jan-Jun.

     --Mining companies' profits rose 53.4% to CNY336.67 billion, compared with

a 47.9% rise in Jan-Jun.

     --Manufacturing industry profits rose 14.3% y/y to CNY3.31 trillion,

compared with 14.3% in Jan-Jun.

     --Power companies' profits rose 17.8% y/y to CNY258.70 billion, compared

with a rise of 25.3% in Jan-Jun.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Beijing Bureau; +86-10-8532-5998; email: beijing@marketnews.com

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