BEIJING – Profit growth in China's industrial sector picked up speed in May, thanks to better product sales and improved investment returns, according to official data released Tuesday.
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Profits of China's large industrial companies rose 16.7% on year in May, accelerating from a 14.0% increase in April, the National Bureau of Statistics said.
He Ping, an economist with the statistics bureau, said more products were sold in May compared with April and returns on investment made by industrial firms improved last month. He also said these companies' debt-to-equity ratio declined to 56.1%, compared with the 58.7% in April.
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(END) Dow Jones Newswires
June 26, 2017 22:05 ET (02:05 GMT)