China's industrial profits grew at slower pace in June, upstream industries contribute most of growth

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Profits at China’s industrial companies grew at a slower pace in June as high commodity prices continued to squeeze factories’ profitability.

China's sizeable industrial companies generated a combined 791.8 billion yuan in profits last month, representing an increase of 20 per cent from a year earlier, showed data released by the National Bureau of Statistics on Tuesday, slowing from a 36.4 per cent increase in the previous month.

For the first half of the year, China's total industrial profits surged 66.9 per cent from the same period last year . . .

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