Canada markets open in 5 hours 33 minutes
  • S&P/TSX

    19,135.81
    +28.04 (+0.15%)
     
  • S&P 500

    4,112.50
    +49.46 (+1.22%)
     
  • DOW

    34,021.45
    +433.79 (+1.29%)
     
  • CAD/USD

    0.8235
    +0.0012 (+0.15%)
     
  • CRUDE OIL

    63.90
    +0.08 (+0.13%)
     
  • BTC-CAD

    60,823.97
    -1,183.50 (-1.91%)
     
  • CMC Crypto 200

    1,382.44
    -5.47 (-0.39%)
     
  • GOLD FUTURES

    1,833.70
    +9.70 (+0.53%)
     
  • RUSSELL 2000

    2,170.95
    +35.81 (+1.68%)
     
  • 10-Yr Bond

    1.6680
    0.0000 (0.00%)
     
  • NASDAQ futures

    13,186.75
    +86.50 (+0.66%)
     
  • VOLATILITY

    21.96
    -5.63 (-20.41%)
     
  • FTSE

    6,998.93
    +35.60 (+0.51%)
     
  • NIKKEI 225

    28,084.47
    +636.46 (+2.32%)
     
  • CAD/EUR

    0.6792
    -0.0010 (-0.15%)
     

China's industrial profits rise 10.1% in September

·1 min read

BEIJING, Oct 27 (Reuters) - Profits at Chinese industrial firms in September rose 10.1% year-on-year to 646.43 billion yuan ($96.34 billion), National Bureau of Statistics (NBS) data showed on Tuesday, pointing to a firm recovery in the vast manufacturing sector from the coronavirus shock.

The latest uptick marked the fifth straight month of profit growth, but slowed from a 19.1% increase in August.

For January-September, industrial firms' profits fell 2.4% on an annual basis to 4.37 trillion yuan, better than a 4.4% decrease in the first eight months.

Liabilities at industrial firms rose 6.6% on year at end-September, the same pace as of end-August.

China's recovery has been gaining momentum following the sharp coronavirus-led downturn thanks to strong exports, pent-up demand and government stimulus, but weaker-than-expected gross domestic product growth in the third quarter highlighted pockets of weakness for one of the few drivers of global demand. ($1 = 6.7097 Chinese yuan renminbi) (Reporting by Roxanne Liu and Ryan Woo; Editing by Kim Coghill)