24 May 2019

Industrial firms’ profit growth dips to 9.7% in Nov, Xinhua says

China’s industrial enterprises saw a significant slowdown in their profit growth last month, mainly due to a higher comparative base and a recent slowdown in manufacturing investment, Xinhua news agency reported over the weekend. Industrial profit expanded 9.7 percent from a year earlier to 707.5 billion yuan (US$116.6 billion) in November, down from a 15.1 percent pace in October and 18.4 percent in September, it said, citing the National Bureau of Statistics (NBS). NBS researcher He Ping was quoted as saying that the moderation was due to a higher comparative base. Industrial profit had jumped 22.8 percent in November 2012 and 21.6 percent in October that year. Overall, growth remained stable in the first 11 months as industrial profit increased 13.2 percent to 5.32 trillion yuan, he said.

– Contact HKEJ [email protected]



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