[Ferro-Alloys.com] China's industrial profits increased in June by more than 10 percent year-on-year as the country continued to implement stringent pandemic control measures and policies promoting economic and social development.
Officials and experts said they are seeing further recovery in the Chinese economy with the strengthening of supportive fiscal and monetary policies in the second half of this year.
Profits of China's major industrial enterprises rose by 11.5 percent year-on-year in June, up from 6 percent in May, the National Bureau of Statistics said on Monday.
Industrial profit growth accelerated last month to－12.8 percent year-on-year in the first six months. That was an improvement compared with-19.3 percent from January to May.
This upward trend was driven by increases in industrial output, which rose to 4.8 percent year-on-year in June from 4.4 percent in May, analysts at Nomura Securities said in a note on Monday.