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China’s industrial profits grew at slower pace in April amid surging commodities prices

Profits at China’s industrial companies grew at a slower pace in April, with high commodity prices and weaker performance in the consumer goods sector limiting overall profits at the manufacturing sector.

Industrial profits increased 57 per cent in April from a year earlier to 768.63 billion yuan ($120.22 billion), slowing significantly from the 92.3 growth in the previous month, data from the National Bureau of Statistics (NBS) showed on Thursday.

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