China industrial profits grow at fastest pace since mid-2018 amid pandemic

BEIJING (Reuters) - Profits at China's industrial firms grew for a third straight month and at the fastest pace since June 2018, marking a bright spot in the economy as the manufacturing sector slowly recovers from its coronavirus slump. Profits at China's industrial firms grew 19.6% on-year to 589.

5 billion yuan ($85.58 billion), the statistics bureau said on Thursday, following an 11.5% increase seen in June, the National Bureau of Statistics (NBS) data showed on Thursday. China's recovery had been gaining momentum after.....

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