NBS: China industrial firms' H1 profits jump 19% YoY

Sizable Chinese industrial enterprises saw their total profits register Yuan 3.95 trillion ($583.3 billion) during the first half of this year, jumping by a marked 18.7% from the same period of last year, according to the latest release from China's National Bureau of Statistics (NBS) on July 27.

During June alone, profits earned by those companies rose by 15.5% on year, the NBS release indicated. 'Sizable industrial firms' refers to industrial companies whose main business revenue annually surpasses the threshold of Yuan 20 million, Mysteel Global notes. The surging profitability in the first half was mostly the result of