Profits earned by Chinese industrial enterprises increased in June, figures from the National Bureau of Statistics showed Monday.
Industrial profits rose 0.3 percent year-over-year to CNY 588.57 billion in June following a 0.6 percent rise in the preceding month.
The agency said the slowdown in industrial profit growth for the month was impacted by decline in industrial producer prices, higher unit costs and tough comparisons with the year-ago period, when profits surged up 17.9 percent.
During the first six months of the year, total industrial profits declined by 0.7 percent as compared to the corresponding period last year.
Among sub sectors, profits earned by mining industry plunged 58.8 percent in the January to June period, while manufacturing sector registered profit growth of 6.1 percent.
The material has been provided by InstaForex Company – www.instaforex.com