China Industrial Profits Slow In May



Chinese industrial profit rose at a slower rate in May, figures from the National Bureau of Statistics showed Friday.

Total industrial profit rose 8.9 percent on year in May. This follows the 9.6 percent increase in April.

Industrial profit rose 9.8 percent in the period of January to May, a slower rate of increase than the 10 percent rise in the period of January to April.

Year-to-date profit of private enterprises increased most by 12.9 percent in May. This was followed by a 3.4 percent rise in state-owned enterprises and a 0.9 percent uptick in collective enterprises.

However, mining year-to-date profits declined 16.4 percent in May.

News are provided by InstaForex.