Chinese industrial profits data rebounded further in October.
For the YTD, i.e. January - October profits were +42.2% y/y
- prior (i.e. September) +44.7%
China's National Bureau of Statistics highlit some of the results in the data:
- profits of the mining industry and the raw material manufacturing industry +56.1% y/y
- Driven by implementation of energy supply policies and measures, coal industry's profit increased by 4.38 times y/y
- The profit of the steel industry increased by 57.3% y/y
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The industrial profit data covers large firms with annual revenues of over 20 million yuan from their main operations.
