China's industrial profit up 13% in July
China's industrial profit in July grew by 13.5 percent over a year to 482.3 billion yuan ($78.51 billion), 4.4 percentage point lower than that of June, but still the second-fastest growth this year so far.
The aggregate industrial profit through July grew 11.2 percent, 0.4 percentage points higher than the aggregate through June, the National Bureau of Statistics (NBS) said on Thursday.
He Ping, an analyst with the NBS, said the steady profit growth in July is attributable to the pro-growth measures rolled out by the central government and the taming of the rising momentum of cost.
Cost for every hundred yuan of revenue rose by 0.22 yuan to 86.01 yuan, while in the first six months it rose by 0.36 yuan, according to NBS.
The falling price in the upper stream of the industrial chain left more profit room for enterprises in the middle and downstream, another reason for profit growth.
He Ping, an analyst with the NBS, said the steady profit growth in July is attributable to the pro-growth measures rolled out by the central government and the taming of the rising momentum of cost.
Cost for every hundred yuan of revenue rose by 0.22 yuan to 86.01 yuan, while in the first six months it rose by 0.36 yuan, according to NBS.
The falling price in the upper stream of the industrial chain left more profit room for enterprises in the middle and downstream, another reason for profit growth.
