China’s November industrial profits rise 5.4% year-on-year

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Profits at China’s industrial firms in November grew 5.4% from a year earlier to 593.9 billion yuan ($84.93 billion), the National Bureau of Statistics said on Friday.

That compares with a 9.9% drop in October, the biggest fall since the January-February period.

For January-November, profits were down 2.1% from a year earlier at 5.61 trillion yuan, versus a 2.9% decline in the first 10 months of 2019.

Liabilities at industrial firms rose 5.3% at end-November from a year earlier, versus a 4.9% increase as of end-October.

The data covers companies with more than 20 million yuan in annual revenue from their main operations.

Source: REUTERS

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