You are using an older browser version. Please use a supported version for the best MSN experience.

Chinese industrial profits up 19.5% in Aug

AAP logoAAP 27/09/2016

Chinese industrial profits increased 19.5 per cent year-on-year in August, the biggest rise in three years, to stand at $US80 billion ($A104 billion), according to the National Bureau of Statistics.

The bureau says this rise exceeds the year-on-year increase of 11 per cent in July and the rise in the first eight months of the year was 8.4 per cent.

It attributed the strong growth in August to increased production and sales as well as recovery of prices and lower operating costs.

However, problems continue to persist, including the time taken by Chinese companies to charge their sales and the delicate situation of companies in industries suffering from overcapacity.

Between January and August, 33 out of 41 industrial sectors recorded increases in profits over the same period of the previous year, which were especially strong in the technology sector, which recorded a 19.8 per cent rise.

On the other hand, electricity, oil and gas exploration and energy production stood out among the sectors with losses.

The calculations are based on information from companies with more than $US3 billion ($A3.9 billion) annual revenues.

image beaconimage beaconimage beacon