China’s industrial firms saw their combined profit rise 12.2 percent from a year earlier in 2013, Xinhua news agency reported Tuesday, citing the National Bureau of Statistics (NBS). The total profits of industrial companies with annual revenues of more than 20 million yuan (US$3.28 million) reached 6.28 trillion yuan last year, the NBS was quoted as saying in a statement. The growth rate was higher than the 5.3 percent expansion pace seen in 2012, but lower when compared to the 2011 figure of 25.4 percent, it said. In December 2013, the companies’ combined profits climbed 6 percent year on year to 942.53 billion yuan. The monthly growth, however, was 3.7 percentage points lower than that in November, the report noted.
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