China Industrial Profits Increase At Slower Pace

(RTTNews) - China's industrial profits continued to expand in August but the pace of growth softened notably despite the strength in the electronic and hit-tech manufacturing, official data showed Monday.

Industrial profits rose 4.2 percent on a yearly basis in August, the National Bureau of Statistics said. This was much slower than the 11.2 percent increase posted in July.

During January to August, industrial profits increased 15.7 percent from the same period of the previous year. However, this was weaker than the 17.6 percent rise seen in the January to July period.

Profits in electronic equipment manufacturing sector surged 110 percent in the eight months to August, data showed.