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China's Industrial Profits Surge in Ten Months
China's industrial enterprises reported a hefty 98.7-percent year-on-year increase in their profits which topped 327.49 billion yuan in the first ten months this year.
The National Bureau of Statistics (NBS) said November 27 that the profits of state-owned enterprises totaled 183.87 billion yuan in the ten-month period, 2.6 times of that for a year earlier.
At the same time, loss-incurring industrial enterprises reduced losses by 13.3 percent over the same period last year to 99.04 billion yuan, which was 4.4 percentage points higher than the first nine months this year.
State-owned enterprises reduced losses by 13.9 percent from a year earlier to 63.67 billion yuan in the first ten months, 0.7 percentage points higher than in the January-September period.
According to NBS, the composite index of economic efficiency of industrial enterprises rose by 16.8 points over one year ago to 114.8 by the end of October.
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