China's industrial profits rise as economy perks up

Auto manufacturing, nonferrous metal smelting and rolling, and general-purpose equipment manufacturing were among the sectors that saw the most prominent recovery, with profits in the auto industry expanding 53.8 per cent year-on-year, extending the 26-per cent increase in the second quarter. - AFP

BEIJING (Xinhua): Profits of China's major industrial firms maintained an upward momentum in September as production demands have gradually warmed up amid solid efforts to contain Covid-19 and bolster economic development, official data showed Tuesday (Oct 27).

Profits of the country's major industrial firms totaled 646.43 billion yuan (about US$96.5 billion) in September, increasing by 10.1 per cent year-on-year, data from the National Bureau of Statistics (NBS) showed.