China's industrial profits firmly grow in first 7 months

China's major industrial firms posted about 4.25 trillion yuan (639.1 billion US dollars) profits in the first seven months of the year, a 21.2 percent jump from the same period last year, according to official data released Sunday.

The 21.2 percent profit growth in January to July period is slightly slower from 22 percent in the first six months of this year but much faster than 8.5 percent increase in 2016, according to the statement posted by China's National Bureau of Statistics.

In the first seven months, 37 among the 41 industrial categories reported year-on-year profits growth while profit drops in only 4 industries, which are tobacco, metal products and machinery repair, transport equipment manufacturing and electricity/thermal power production.

In July alone, profits of the industrial enterprises above designated size rose 16.5 percent year on year, slower than the 19.1 percent rate in June.

And revenue in the month reached 612.67 billion yuan with 16.5 year-on-year growth.

(CGTN)