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China's industrial businesses' profits up 29.7 pct in January-April

Source:   Time:

  The profits of China's industrial businesses rose 29.7 percent in the first four months year-on-year to 1.49 trillion yuan (229.11 billion U.S. dollars), the National Bureau of Statistics (NBS) announced Friday.

  The growth rate, however, was 2.3 percentage points lower than the first quarter, the NBS said in a statement on its website.

  The NBS figures showed that combined revenues of the industrial firms rose 29.5 percent to 24.11 trillion yuan in the first four months from the previous year.

  The report was based on a survey of industrial companies with annual sales exceeding 20 million yuan each, higher than the previous (before 2011) threshold of 5 million yuan.

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