NBS: China's coal mining, washing industry profits down 24% in Jan-Oct

The combined profit of major enterprises in China's coal mining and washing industry reached Yuan 506.16 billion ($69.9 billion) during the first ten months of this year, down by 23.7% on year, according to data issued by the National Bureau of Statistics (NBS) on November 27. The NBS defines major enterprises as those with annual primary business revenue of Yuan 20 million or more.

Operating revenue for the industry totaled Yuan 2.6 trillion in the first ten months, down 10.8% on year, while its operating costs declined by 7.4% on year to Yuan 1.73 trillion over the same period, the data show. Although the NBS doesn't provide specific reasons for the profit decline, the