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Post by bot on Aug 30, 2013 12:12:22 GMT -5
China industrial profit holds to 11.1% annual gain
LOS ANGELES (MarketWatch) -- Chinese industrial firms' total profit from January to July was 11.1% higher than the same period a year earlier, the National Bureau of Statistics said Tuesday. The rate of annualized gains was unchanged from the January-June reading but marked a slowing from the January-May year-on-year rise of 12.3%. For July alone, industrial profit rose 11.6%, according to calculations in a report from the state-run Xinhua news service. Looking only at the firms' core activities, January-July profit rose 5.1% on an annual basis, swinging from a 2.1% drop for January-June, the bureau said.
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