By Bloomberg News
Chinese industrial companies’ profits rose for a fourth month in December, adding to signs the country’s economic rebound is gaining momentum.
Net income increased 17.3 percent from a year earlier to 895 billion yuan ($144 billion), the National Bureau of Statistics said today in Beijing, after a 22.8 percent jump in November. Earnings for the full year gained 5.3 percent.
Industrial profits may rise by an average 30 percent this year as the world’s second-biggest economy recovers from a seven-quarter slowdown, businesses start restocking and export demand improves, Standard Chartered Plc forecasts. Expansion in gross domestic product may accelerate to 8.1 percent this year from 7.8 percent in 2012, according to the median of 44 analyst estimates in a Bloomberg News survey this month. …
Read more » Bloomberg