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NBS: China industrial firms’ Jan-Jul profits up 57%

ABSTRACT

Over January-July, China’s sizable industrial firms saw their gross profits increase by 57.3% on year or 44.6% higher from the corresponding period of 2019, according to the latest release by the country’s National Bureau of Statistics (NBS) on August 27, suggesting a steady growth in demand and gradual recovery in national economy.
In the first seven months, these industrial firms posted their gross profits at Yuan 4.92 trillion ($760 billion) in total, among which, that for July alone grew but more slowly by 16.4% on year to Yuan 703.7 billion as against the 20% on-year growth for June, according to the NBS. “In

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