China Industrial Firms Post Profit Rise 8.5% in 2016
China Industrial Firms Post Profit Rise 8.5% in 2016
Beijing - QNA
China's major industrial firms ended their days of profit losses and reaped good returns in 2016 on the back of a construction boom, the Chinese National Bureau of Statistics (NBS) said Thursday.
Those companies reported an 8.5 percent profit increase in 2016, reversing a 2.3 % decline registered in 2015, the NBS said in a statement.
NBS statistician He Ping said industrial firms showed remarkable improvement in performance, featuring a rise of 5.97 percent in their profitability.
In December, their profits grew 2.3 % year on year, slowing down by 12.2 % from the November figure.
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