China’s industrial profit growth slowed in November. Industrial firms with annual revenues over 3.3 million U.S. dollars posted a profit rise of 9.7 percent. That’s sharply slower than October’s 15.1 percent increase.
The slowdown is main due to state firms and collectively owned companies. Private firms and foreign invested companies’ logged quicker earnings growth. The National Bureau of Statistics says January to November industrial profits totalled 5.33 trillion yuan, or 877 billion US dollars. That’s up 13.2 percent year on year.
Source: CCTV
