China's industrial profits down 2.1 pct in first 8 months

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China's industrial profits down 2.1 pct in first 8 months

STORY: China's industrial profits down 2.1 pct in first 8 months DATELINE: Sept. 27, 2022 LENGTH: 00:00:49 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the industrial production in China STORYLINE: Official data showed on Tuesday that the profits of China's major industrial firms fell 2.1 percent year on year in the first eight months of 2022. The National Bureau of Statistics (NBS) said that industrial firms each with annual main business revenue of at least 20 million yuan (about 2.83 million U.S. dollars) saw their combined profits reach 5.53 trillion yuan in the period. The data showed that the combined revenues of these firms sustained a quicker growth pace during the period, rising 8.4 percent year on year to 87.89 trillion yuan. A total of 16 out of 41 major industries saw growth in profits in the January-August period. The electrical machinery and equipment manufacturing sector saw profits jump 20.9 percent year on year and the profits of the manufacturing of chemical raw materia

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