Figures from China's National Bureau of Statistics showed on Friday
industrial profits rose in May, although at a slower rate than in the
previous month.
The growth in industrial profits slowed to 8.9 percent on year in May after profits surged 9.6 percent in April.
Profits for the five months ended May were up 9.8 percent, edging down from the 10 percent growth for the four months ended April.
Among industries, profits from mining industries declined by 16.4 percent for the January to May period. Meanwhile, manufacturing sector profits rose 13.8 percent and profits from the electricity, heat, gas and water production and supply industry were up 25.1 percent.
Among enterprises, profits of private enterprises increased the most by 12.9 percent, a faster rate of increase than the 11.6 percent rise for the four months ended April. Profits from state-owned enterprises grew 3.4 percent in May after the 3 percent rise in the January to April period. Collective enterprises profits rose at a slower rate of 0.9 percent in May following the 1.2 percent increase in the January to April period.
Data released earlier this week showed that Conference Board's leading index for China indicated continued weaknesses in China's real economy in the coming months. Data from China's National Bureau of Statistics showed last week that the downtrend in house prices growth continued in May.
However, a survey by Markit Economics and HSBC Bank showed last week that China's manufacturing activity rebounded unexpectedly in June to its highest level in seven months.
