Free stock tips - Profits earned by Industries & companies of China fell 0.1 per-cent in September from a year earlier,yesterday data from the statistics bureau showed, levelling after a record 8.8 per-cent collapse in August month. Industrial profits - which cover large enterprises with annual revenue of more than 20 million yuan (USD 3.15 million) from their main operations - fell down 1.7 per-cent in the first 9 months of the year as compared with the same period a year earlier, reports told.Although, the rate of industrial losses shrinked in Sep month, given that downward pressure on the industrial economy continues, the industrial profit outlook is still not optimistic, the NBS told in an statement.
The NBS contributed that core business revenues went down 0.5 % at industrial firms, the first time in many years"it had done so. The declaration comes after China's central bank cut key interest rates and eased bank reserve requirements on Friday last week, following a GDP reading of 6.9 per-cent in the 3rd quarter, beating expectations but still the lowest growth rate in decades.
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