China industrial profit growth accelerates despite rising price of coal, supply shortages, power rationing

Source: China – South China Morning PostProfits at China’s industrial firms rose at a faster pace in September despite surging prices and supply bottlenecks, thanks mainly to stellar growth in mining and raw materials industries although some businesses struggled to shake off the high costs.Profits jumped 16.3 per cent year on year to 738.74 billion yuan (US$115.7 billion) the National Bureau of Statistics (NBS) of China said on Wednesday, quickening from the 10.1 per cent gain reported in August.The industrial sector has been hit by…Read More

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