China's industrial profits grew at fastest pace since mid-2018, auto, electronics industries see sharp improvement

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Profits generated by China’s industrial firms grew for a third straight month in July and at the fastest pace since June 2018, in a further sign that the world's second largest economy is on track of a recovery from the coronavirus fallout.

The industrial profits grew 19.6 per cent year over year to 589.5 billion yuan ($85.58 billion), showed data released by the National Bureau of Statistics on Thursday, improving from an 11.5 per cent increase seen in the previous month.

However, for the January-July period, industrial companies . . .

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