China's industrial profits extend growth in Dec amid brisk factory recovery


People stand at a vaccination site after receiving a dose of Covid-19 vaccine, during a government-organised visit in Shanghai, China on Jan 19, 2021. - Reuters

BEIJING: Profits at China's industrial firms grew for the eighth straight month in December, suggesting a sustained recovery as the manufacturing sector rapidly emerged from its Covid-19 slump.

Profits surged 20.1% year-on-year in December to 707.11 billion yuan ($109.40 billion), after rising 15.5% in November, the National Bureau of Statistics (NBS) data showed on Wednesday.

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