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Macro-economy

Guangdong sees rebound in industrial profit growth

October 10, 2019


Abstract : South China's Guangdong Province saw a rebound in industrial profit growth in the January-August period.

GUANGZHOU, Oct. 9 (Xinhua) -- South China's Guangdong Province saw a rebound in industrial profit growth in the January-August period.

Its major industrial firms with annual revenue of more than 20 million yuan (2.8 million U.S. dollars) generated a total profit of 535 billion yuan, up 0.4 percent year on year, according to the provincial bureau of statistics.

The growth was 2.1 percentage points higher than in the first seven months of the year.

Meanwhile, 61.5 percent of the industrial sector in Guangdong posted profit growth, 10.3 percentage points higher than in the January-July period.

Guangdong, which has the largest GDP among the country's provincial-level regions, saw 20.4 percent of its major industrial firms make losses, 1.2 percentage points lower than in the first seven months.

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Keyword: Guangdong industrial profits

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