China Jan-Sept industry net profit +14.7% y/y, slowing from +16.2% in Jan-Aug

29, Oct. 2018

BEIJING, NNA - The combined net profit of China’s industrial companies rose 14.7% on year to 4.97 trillion yuan ($716 billion) in the January-September period after growing 16.2% in the first eight months of the year, with the pace of increase decelerating for the third consecutive period, the National Bureau of Statistics said last week.

Of the 41 sectors surveyed, 34 industries reported higher profits, led by oil and gas developers as well as iron and steel smelters. Seven industries, including iron and steel miners, said they had lower profits.