×

China's industrial profits up 25.1 pct y/y in Oct; growth slows from Sept

Nov 27 (Reuters) - Profits earned by China's industrial companies in October rose 25.1 percent from a year earlier, the statistics bureau said on Monday, slowing from a 27.7 percent gain in September.

Profits rose to 745.4 billion yuan ($112.94 billion) in October, the National Bureau of Statistics (NBS) said on its website.

In September, profits surged the most in nearly six years as prices of finished goods including steel and copper soared. Prices had jumped due to fears of supply shortages in the winter amid an ongoing government crackdown on air pollution.

In the first 10 months, industrial profits rose 23.3 percent from a year earlier, versus the 22.8 percent increase in January-September, according to the statistics bureau.

At the end of October, industrial firms' liabilities were 6.7 percent higher than a year earlier, with the growth rate unchanged from the end of September.

The data covers large companies with annual revenue of more than 20 million yuan from their main operations. ($1 = 6.5998 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk and Elias Glenn; Editing by Shri Navaratnam)