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China Jan-Feb industrial profits rise 16.1%

China's industrial profits grew 16.1% year over year to 968.9 billion yuan in the first two months of 2018, National Bureau of Statistics data showed March 27.

Top gainers in January and February were the mining industry, where profit rose an annual 42.1% to 87.79 billion yuan, and the electricity, heat, gas, and water production and supply industry, which reported a 35.2% annual profit rise to 71.11 billion yuan.

The manufacturing industry reported a 12.5% annual profit rise to 810 billion yuan.

As of March 26, US$1 was equivalent to 6.27 Chinese yuan.