June 27, 2018 / 1:37 AM / 5 months ago

China's May industrial profits jump 21.1 percent y/y

June 27 (Reuters) - Profits at China’s industrial companies in May rose 21.1 percent from a year earlier, the statistics Bureau said on Wednesday, nearly on pace with a 21.9 percent gain in April.

Industrial profits increased 16.5 percent in the first five months of 2018 from same period last year, versus a 15 percent increase in the January-April period.

Total profits in May totalled 607.1 billion yuan, according to the National Bureau of Statistics (NBS).

By the end of May, industrial firms’ liabilities grew 6.3 percent from a year earlier to 61.6 trillion yuan, compared with an increase of 6.6 percent at the end of April.

The data covers large enterprises with annual revenues of more than 20 million yuan from their main operations. (Reporting by Beijing Monitoring Desk Editing by Shri Navaratnam)

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