China industrial profits rise 11.5% in June, signal economic recovery

Topics China | Industrial growth | Lockdown

Profits at China's industrial firms rose for a second straight month and at the fastest pace in over a year, adding to signs the country's economic recovery from the coronavirus crisis is gaining momentum. The statistics bureau said on Monday that profits at China's industrial firms rose 11.5% year-on-year in June to 666.

55 billion yuan ($95.27 billion) - marking the quickest profit growth since March 2019. May marked the sector's first monthly growth in earnings since November, before the onset of the coronavirus.

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