China’s Industrial Profits Get Boost From Steel, Refining
- Industrial profits in first nine months of year rose 8.4%
- Steel and oil refining lead gains among industry groups
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Profits of China’s industrial corporations are holding up this year thanks to a boost from steel and refining, even as last month’s earnings slowed from a three-year high.
Industrial profits in January-September rose 8.4 percent from a year earlier to 4.64 trillion yuan ($685 billion), the National Bureau of Statistics said Thursday. Earnings last month rose 7.7 percent in September from a year earlier to 577.1 billion yuan, less than the jump of 19.5 percent in August that was the biggest in three years.