China industrial profits jump 20.5%, signals rebound

BEIJING: Profits earned by industrial companies leaped 20.5% in October over the previous year to 500 billion yuan, accelerating from September's 7.8% year-on-year increase, China's National Bureau of Statistics (NBS) said.

It said China's industrial enterprises made 4 trillion yuan (US$647bil) in profits in the first 10 months of 2012, with earnings at power generation, technology and food processing companies seeing double digit rises in October putting them firmly back on the path of profit growth, following a 1.8% fall in profits in the first nine months of 2012 versus 2011.