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China industrial profits up 19.1% in June despite borrowing cost worries

This signals that economic momentum remains solid as China recorded good performance even in May

Reuters  |  Beijing 

Earnings for China's industrial firms surged 19.1 per cent in June from a year earlier, accelerating from May in a sign that economic momentum remains solid, even as rising borrowing costs have raised concerns about pressure on margins. Profits in June rose to 727.78 billion yuan ($107.83 billion), the National Bureau of Statistics (NBS) said on its website on Thursday. For the first half of the year, the firms notched up profits of 3.63 trillion yuan, a 22 per cent jump from the same period of last year and just a touch slower from the 22.7 per cent annual growth in the ...

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First Published: Thu, July 27 2017. 11:35 IST