China industrial profits up 4.3 percent
Profits of China's major industrial firms increased 4.3 percent year on year in the first four months of the year, official data showed on Monday. The growth rate was the same with that registered in the first quarter, according to the National Bureau of Statistics (NBS). For April alone, profits were up 4 percent, versus a 3.5 percent slide in March. Industrial firms with an annual main business revenue of at least 20 million yuan saw their combined profits reach 2.09 trillion yuan during the January-April period. The pickup in earnings followed export-led growth in factory output over the past month while retail sales unexpectedly slowed, underscoring uneven recovery. "Domestic effective demand remains insufficient while the external environment is still complicated and severe," said NBS statistician Wei Ning in a separate statement, noting that the foundation for improvement in industrial profits needs to be consolidated. (Xinhua/Reuters)