China Industrial Profits Recover In August

(RTTNews) - China's industrial profits rebounded in August as support measures helped to lift demand, data from the National Bureau of Statistics revealed on Wednesday.

Industrial profits logged a double-digit growth of 17.2 percent in August, in contrast to the 6.7 percent decrease in July.

However, industrial profits during January to August period declined 11.7 percent from a year ago, which was slower than the 15.5 percent decrease seen in seven months to July. Data suggested that measures adopted by the government as well as the central bank started to boost demand and support corporate earnings.