China's value-added industrial output grew 6 percent year

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prices went up and production costs came down, the National Bureau of Statistics
(NBS) said Wednesday.
[/i][/i][i][i][/i][/i][i][i]Industrial companies with annual revenue of more than 20 million yuan (about 3.02 million U.S. dollars) reported profits of 4.92 trillion yuan in the first
eight months, a 21.6-percent increase from one year earlier, the NBS said in a
statement.
[/i][/i][i][i][/i][/i][i][i]The strong growth marks a pick-up from the 21.2 percent in the January-July period.
[/i][/i][i][i][/i][/i][i][i]In August alone, profits of major industrial firms jumped 24 percent year on year Wholesale Nike NBA Jerseys , much faster than the 16.5-percent growth in July, the NBS said.
[/i][/i][i][i][/i][/i][i][i]Among the 41 industries surveyed, 39 posted year-on-year profit growth during the first eight months.
[/i][/i][i][i][/i][/i][i][i]NBS statistician He Ping said the strong growth was a result of price hikes in industrial products and lower production costs.
[/i][/i][i][i][/i][/i][i][i]China's producer price index (PPI), which measures costs of goods at the factory gate, rose 6.3 percent year on year in August Wholesale Authentic NBA Jerseys , 0.8 percentage points higher than the July level.[/i][/i][i][i][/i][/i][i][i]The price rebound has added some 127.3 billion yuan to the August industrial profits, accounting for 31.2 percent of the total profit increase last month,
said He.
[/i][/i][i][i][/i][/i][i][i]The trend was particularly evident in sectors such as the petroleum, steel and electronics industries, the statistician said.
[/i][/i][i][i][/i][/i][i][i]In August Wholesale NBA Jerseys Online , the oil and natural gas exploitation industry's profits went up 4.94 billion yuan from a year ago, but in July, it suffered a decrease
of 1.03 billion yuan in profits.
[/i][/i][i][i][/i][/i][i][i]Meanwhile, for each 100 yuan of revenue, companies had to spend 85.44 yuan Wholesale NBA Jerseys Cheap , a 0.64-yuan decrease from the same period last year, NBS data showed.
[/i][/i][i][i][/i][/i][i][i]He also mentioned that the leverage ratio of Chinese industrial firms is on the decline amid the government's ongoing supply-side structural reform. By the
end of August, their debt-asset ratio dropped 0.7 percentage points from a year
ago to 55.7 percent.
[/i][/i][i][i][/i][/i][i][i]The industrial sector, which accounts for about one-third of China's GDP, started to pick up last year after a bad 2015. The upbeat August profits data
has added to evidence of resilience in the sector and steady improvement in the
overall economy.
[/i][/i][i][i][/i][/i][i][i]China's value-added industrial output grew 6 percent year on year in August Wholesale NBA Jerseys From China , previous NBS data showed. On a monthly basis, industrial production edged up 0.46 percent in August compared to July.
[/i][/i][i][i][/i][/i][i][i]China's economy expanded 6.9 percent for the first half of 2017, above the government's 2017 full-year target of around 6.5 percent.
[/i][/i][i][i][/i][/i][i][i]The Asian Development Bank projected earlier this week that China's economic growth will be 6.7 percent for this year and 6.4 percent for 2018.
[/i][/i][i][i][/i][/i][i][i]In an update of the Asian Development Outlook 2017, its flagship annual economic publication, the bank said better-than-expected external
demand Wholesale NBA Jerseys China , proactive fiscal policy and strong domestic consumption have combined to drive up China's growth.
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