China's industrial profit rose 9.4 percent over the previous year. An expert from the country's statistical office noted that "the growth was mainly due to the recovery of prices in the raw materials industries, such as oil refining and mining and metallurgy."
Profits from January to November were almost 10 percent higher than the same period last year, the statistics office in Beijing announced. In November alone, the surplus amounted to 775 billion yuan (about 107 billion euros).
During the first three quarters, the world's second largest economy grew 6.7 percent. However, rising corporate debt raises the risk that the recovery is coming to an end. Moreover, the economy in China, after decades of double-digit boom, is currently slowing growth anyway.
China's industrial profits increased significantly in 2016
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Azovpromstal® 5 January 2017 г. 13:30 |
