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.