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China's industrial profits up 17.1% in Jan-July

Xinhua | Updated: 2018-08-27 13:34
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A State Grid employee works on an ultra-high-voltage transmission construction in Huainan, East China's Anhui province. [Photo by Song Weixing / For China Daily]

BEIJING - Profits of China's major industrial firms grew 17.1 percent in the first seven months of 2018, slightly down from the 17.2-percent expansion for the January-June period, official data showed Monday.

In July alone, combined profits at industrial companies each with annual revenue of more than 20 million yuan ($2.9 million) went up 16.2 percent year-on-year to reach 515 billion yuan, according to the National Bureau of Statistics.

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