China’s industrial businesses saw profits rise 9.7 percent year on year in November, slowing from a 15.1 percent growth in the previous month, the official Xinhua news agency reported Friday, citing data from the National Bureau of Statistics. Combined earnings of industrial firms with annual revenue of more than 20 million yuan (US$3.3 million) reached 707 billion yuan in November, the NBS said in a statement. For the first 11 months, profits rose 13.2 percent year on year to 5.33 trillion yuan, down from 13.7 percent in the first 10 months, the report said. Private businesses saw their combined profits jump 16.3 percent in the January to November period, while state enterprises recorded an 8.4 percent growth in earnings, it added.
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