Profits earned by China's industrial firms grew at their fastest pace in three months in June, indicating government spending is supporting the corporate sector though uneven growth and soft investment pose headwinds.
Profits in June rose 5.1 percent to 616.31 billion yuan ($92.40 billion), the National Bureau of Statistics (NBS) said on Wednesday, the fastest growth since March.
"The bottom line is that the worst has gone in terms of industrial profits," said Raymond Yeung, an economist at ANZ in Hong Kong.
He said the improvement in China's upstream prices, as seen in the recent moderation in producer price index declines, points to a pickup in profits in the second half of the year.
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Profits in June rose 5.1 percent to 616.31 billion yuan ($92.40 billion), the National Bureau of Statistics (NBS) said on Wednesday, the fastest growth since March.
"The bottom line is that the worst has gone in terms of industrial profits," said Raymond Yeung, an economist at ANZ in Hong Kong.
He said the improvement in China's upstream prices, as seen in the recent moderation in producer price index declines, points to a pickup in profits in the second half of the year.
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