China's Industrial Profits Fall Most in Eight Months, Tumbling 9.9% in October(Yicai Global) Nov. 27 -- The profit growth of Chinese industrial enterprises above the designated size slowed down by 0.8 percentage point during the first ten months of this year from a year earlier.
These companies' gains rose by 2.9 percent to CNY5.02 trillion (USD714.5 billion) from a year ago, data from the National Bureau of Statistics show. The bureau did not disclose whether this was before or after tax.
October had much to do with the downturn. During the month, the total profits of these firms dropped 9.9 percent to CNY427.56 billion (USD60.9 billion) from a year earlier. The decrease was 4.6 percentage points larger than in September.
Editor: Emmi Laine
