July 27, 2018 / 1:38 AM / 19 days ago

China's June industrial profits rise 20 percent y/y

BEIJING, July 27 (Reuters) - Profits at China’s industrial companies in June rose 20 percent from a year earlier, the statistics Bureau said on Friday, versus 21.1 percent gain in May.

Industrial profits increased 17.2 percent in the first six months of 2018 from same period last year, versus a 16.5 percent increase in the January-May period.

Total profits in June totalled 658.29 billion yuan, according to the National Bureau of Statistics (NBS).

By the end of June, industrial firms’ liabilities grew 6.6 percent from a year earlier to 61.9 trillion yuan, compared with an increase of 6.3 percent at the end of May.

The data covers large enterprises with annual revenues of more than 20 million yuan from their main operations. (Reporting by Beijing Monitoring Desk and Yawen Chen; Editing by Sam Holmes)

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