China's industrial profits up 13.9% y / y



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BEIJING, April 27 (Reuters) – Chinese industrial profits in March rose 13.9 percent year-on-year, rebounding after four months of contraction, the National Bureau of Statistics said Saturday.

Profits fell by an average of 14% in the first two months of 2019 and have contracted since November.

For the first three months of the year, industrial profits fell 3.3 percent to 1.3 trillion yuan, the statistics bureau said.

The Chinese economy has grown faster than expected by 6.4% in the first quarter, thanks to the jump in industrial production, but it is still too early to be optimistic, badysts predict a recovery in the second half of the year.

Commitments by industrial enterprises increased by 6.5% on an annual basis at the end of March, compared to 6% at the end of February.

The data cover large companies with an annual business turnover of more than 20 million yuan from their main operations. (Reports by the Beijing Monitoring Bureau, edited by Michael Perry)

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