China's industrial firms' profits up

China’s industrial firms’ profits up

China's National Bureau of Statistics (NBS) disclosed that the country's industrial firms' profits rose 19.4 percent year on year to RMB 1.11 trillion ($137 billion) in the first ten months of the year. Profits among state-owned and state-controlled firms increased 15.6 percent year on year to RMB 530 billion ($66 billion) in the first ten months of 2005 while profits among collectives rose 28.3 percent to RMB 41.2 billion ($5 billion). NBS indicated that profits across the coal sector surged 76.5 percent year on year while the oil industry saw profits increase 74.7 percent. Profits among non-ferrous metal companies rose 40.8 percent while ferrous metal firms saw a 116.5 percent rise in profits. Meanwhile, profits among steel firms rose 11.2 percent year on year.