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China's industrial profits jump most in four years on commodity price surge

The robust industrial earnings growth in August was driven by higher prices, particularly in sectors like oil, steel & electronics

Reuters  |  Beijing 

Profits at China's industrial companies rose the most in four years in August as commodities prices surged, thanks to a government-backed construction boom that is helping Beijing trim high levels of corporate debt without tripping up the economy. The upbeat earnings report is another sweetener for authorities as China focuses on stripping out financial risks from years of credit-fueled growth and keeping the economy on a steady footing ahead of a crucial party gathering next month. Profits in August jumped 24 percent year-on-year to 672 billion yuan ($101.21 billion), the ...

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First Published: Wed, September 27 2017. 12:00 IST