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China Jan-April industrial profits climb 15% YOY

China's industrial profits in the first four months of 2018 grew 15% year over year to 2.127 trillion yuan, National Bureau of Statistics data showed May 27. This was 3.4 percentage points higher than the 11.6% profit increase year over year in the first quarter of 2018.

The manufacturing industry posted a 12% annual rise in profit to 1.796 trillion yuan.

The mining industry's profit climbed an annual 39% to 184.84 billion yuan and that of the electricity, heat, gas, and water production and supply industry registered a 28.7% annual profit rise to 145.96 billion yuan over the period.

For the month of April, industrial profits rose 21.9% to 576.03 billion yuan from the year-ago period, up 18.8 percentage points from the profit growth rate in March.

As of May 25, US$1 was equivalent to 6.39 Chinese yuan.