China Industrial Profits Decline At Slower Pace

(RTTNews) - China's industrial profits declined at a slower pace in the January to July period, data from the National Bureau of Statistics showed on Wednesday.

Industrial profits decreased 1.7 percent on a yearly basis, slightly slower than the 1.8 percent fall in the January to June period.

In the month of July, industrial profits decreased at a slower pace of 1.5 percent from a year ago. Profits increased at a faster rate in the manufacturing sector, up 6.8 percent in July. In the first seven months of the year, manufacturers reported robust growth in profits, while mining registered a sharp decline of around 32 percent.

NBS Statistician Yu Weining said policy measures to promote a reasonable rebound in prices were gradually implemented, driving corporate profitability to recover continuously.