May 27, 2018 / 1:43 AM / a year ago

China's April industrial profits up 21.9 pct y/y

BEIJING, May 27 (Reuters) - Profits earned by China’s industrial firms rose 21.9 percent in April from a year earlier, quickening from the previous month, the statistics bureau said on Sunday.

Profits in April rose to 576 billion yuan ($90.14 billion), the National Bureau of Statistics (NBS) said on its website. Profits in March had risen 3.1 percent, the slowest pace in more than a year.

For the first four months of the year, industrial profits increased by 15 percent from a year earlier to 2.13 trillion yuan, slowing from 24.4 percent in the same period last year.

Industrial firms’ liabilities rose 6.1 percent from a year earlier by the end of April to 61 trillion yuan, compared with an increase of 5.8 percent in the first quarter.

The data covers large enterprises with annual revenues of more than 20 million yuan from their main operations. ($1 = 6.3903 Chinese yuan renminbi) (Beijing Monitoring Desk Editing by Paul Tait)

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