China's industrial profits up 21.2 pct in first 7 months

Updated 2017-08-27 12:30:41 Xinhua

China's major industrial firms posted steady profit growth in the first seven months of the year, further evidence of firming strength in the economy, official data showed Sunday.

The companies reported a 21.2-percent profit increase in the first seven months from one year earlier, slightly slowing from 22 percent in the January-June period but much faster than the 8.5-percent increase in 2016, the National Bureau of Statistics said in a statement.

In July alone, profits of major industrial firms rose 16.5 percent year on year, slower than the 19.1-percent rate in June, it said.

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