China’s industrial profits continue to pick up

%3CP%3E%3CFONT%20face%3DVerdana%3EIndustrial%20profits%20maintained%20strong%20growth%20momentum%20in%20China%20in%20November%2C%20giving%20weight%20to%20signs%20that%20the%20world%27s%20second-largest%20economy%20is%20recovering.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMajor%20Chinese%20industrial%20firms%2C%20or%20those%20with%20annual%20revenues%20of%20more%20than%2020%20million%20yuan%20%283.18%20million%20U.S.%20dollars%29%2C%20saw%20profits%20surge%2022.8%20percent%20year%20on%20year%20to%20reach%20638.5%20billion%20yuan%20last%20month%2C%20the%20National%20Bureau%20of%20Statistics%20%28NBS%29%20said%20in%20a%20statement.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20profit%20growth%20was%20faster%20than%20the%20growth%20rates%20of%2020.5%20percent%20recorded%20in%20October%20and%207.8%20percent%20in%20September.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIn%20the%20first%2011%20months%20of%20the%20year%2C%20profits%20climbed%203%20percent%20from%20a%20year%20earlier%20to%204.66%20trillion%20yuan%2C%20compared%20with%20a%200.5-percent%20increase%20in%20the%20January-October%20period%20and%20a%201.8-percent%20decline%20in%20the%20January-September%20period%2C%20according%20to%20NBS%20data.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIn%20breakdown%2C%20private%20businesses%20outperformed%20other%20firms%2C%20with%20combined%20profits%20up%2018%20percent%20year%20on%20year%20in%20the%20first%2011%20months.%20Both%20state-run%20firms%20and%20overseas-funded%20enterprises%20witnessed%20profit%20drops%20of%20more%20than%206%20percent%20during%20that%20period.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ERevenues%20from%20primary%20business%20at%20those%20companies%20were%20up%2010.8%20percent%20year%20on%20year%20to%2082.33%20trillion%20yuan%20in%20the%20first%2011%20months.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20data%2C%20together%20with%20other%20indicators%2C%20show%20that%20China%27s%20economy%20is%20gaining%20steam%20after%20slowing%20for%20seven%20consecutive%20quarters%20due%20to%20weak%20global%20demand%20and%20government%20curbs%20on%20the%20property%20sector.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20value-added%20industrial%20output%20rose%2010.1%20percent%20year%20on%20year%20in%20November%2C%20accelerating%20from%209.6%20percent%20in%20October%20and%209.2%20percent%20in%20September%2C%20previous%20NBS%20figures%20show.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAn%20HSBC%20report%20released%20earlier%20this%20month%20said%20the%20previewed%20purchasing%20managers%27%20index%20for%20China%27s%20manufacturing%20sector%20increased%20to%2050.9%20in%20December%2C%20a%2014-month%20high%2C%20pointing%20to%20improving%20manufacturing%20activity.%20%3CBR%3E%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%uFF08xinhua%uFF09%3C/P%3E%3C/FONT%3E