Chinese industrial profits steady after April rebound


Profits at China’s large industrial companies jumped more than 20 per cent last month, helping to round out year-on-year growth of 16.5 per cent for the first five months of the year.

Chinese industrial profits rose 21.1 per cent year on year in May, just off growth of 21.9 per cent in April, according to the National Bureau of Statistics.

Ferrous metals producers, such as steelmakers, again helped buoy the sector in May, with profits rising 44.6 per cent.

The moves came after Chinese industrial profit growth rebounded in April to a six-month high, according to Reuters data.


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