November 27, 2019 / 1:40 AM / 19 days ago

China's industrial profits fall 9.9% y/y in October

BEIJING, Nov 27 (Reuters) - Profits of China’s industrial firms fell 9.9% in October from a year earlier to 427.56 billion yuan ($60.74 billion), compared with a 5.3% decline in September, the National Bureau of Statistics said on Wednesday.

For January-October, profits fell 2.9% from a year earlier to 5.02 trillion yuan, compared with a decline of 2.1% for the first nine months of the year.

Industrial firms’ liabilities increased 4.9% from a year earlier to 66.74 trillion yuan at end-October, compared with a 5.4% increase at end-September.

The data covers companies with more than 20 million yuan in annual revenue from their main operations. ($1=7.0389 Chinese yuan renminbi) (Reporting by Stella Qiu and Se Young Lee; Editing by Sam Holmes and Clarence Fernandez)

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