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China's industrial profits climb 20.0% in June


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China's industrial profits climb 20.0% in June

China's industrial profits in June rose 20.0% year over year to 658.29 billion yuan, 1.1 percentage point slower than May's profit growth rate, National Bureau of Statistics data showed July 27.

This brought China's industrial profits in the first six months of 2018 to 3.39 trillion yuan, up 17.2% from the previous-year period.

Top gainers in the January-June period were the mining industry, where profit jumped an annual 47.9% to 285.39 billion yuan. The manufacturing industry reported a 14.3% annual profit increase to 2.88 trillion yuan.

Profits in the electricity, heat, gas and water production and supply industry rose an annual 25.3% to 222.77 billion yuan.

As of July 26, US$1 was equivalent to 6.79 Chinese yuan.