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Report: China's November industrial profits rise slowest since April

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Report: China's November industrial profits rise slowest since April

Profits of China's industrial firms rose 14.9% year over year to 785.8 billion yuan in November, the weakest earnings growth since April and down from a 25.1% annual increase in October, Reuters reported, citing the National Bureau of Statistics.

Earnings were weighed down by the slower 5.8% rise in producer prices in November, down from 6.9% in October, the largest month-to-month slowdown in factory inflation, Reuters cited He Ping of the statistics bureau as saying.

In the first 11 months, industrial profits went up 21.9% from the year-ago period, compared with a 23.3% increase in the first 10 months.

Liabilities climbed an annual 6.3% as of end-November from a 6.7% increase as of end-October, the report added.

As of Dec. 26, US$1 was equivalent to 6.54 Chinese yuan.