China Industrial Profits Fall In October

(RTTNews) - China's industrial profits declined for the first time in three months in October, data from the National Bureau of Statistics showed on Thursday.

Industrial profits fell 5.5 percent year-on-year in October after rising 21.6 percent in September and 20.4 percent in August.

However, during January to October, industrial profits rose 1.9 percent from the last year. That said, growth was slower than a 3.2 percent rise in the January to September period.

Profits of state-owned firms logged an annual growth of 1.9 percent in the first ten months of the year. At the same time, foreign firms registered a 3.5 percent increase.