(Yicai Global) Aug. 28 -- The total profit of Chinese industrial enterprises rose 21.2 percent per year from January through July, marking a decline of 0.8 percentage points in profit growth compared with that recorded for the first six months.

Profit growth in July dropped by 2.6 monthly percentage points to 16.5 percent, the National Bureau of Statistics (NBS) reported yesterday.

The slowdown is mainly attributable to temporary non-economic factors such as production suspensions caused by hot weather, He Ping at NBS' industrial statistics department opined in an article. Generally, as supply-side structural reform deepens, corporate profitability has seen an uptick this year, and profit growth in the industrial sector has stayed buoyant.

The slip in industrial production last month tallies with seasonal fluctuations, and industrial growth is expected to rebound moderately this month, Zhang Jun, chief economist at Morgan Stanley Huaxin Securities told Yicai Global, because the momentum for economic growth has remained strong, despite industrial restocking having almost reached its end. China's exports will also increase further, driven by the recovering global economy, so industrial production growth will stay at a relatively stable level with only limited downside pressure.