Economics

China Industrial-Company Profit Gains Accelerated in October

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Chinese industrial companies’ profit gains surged in October and turned positive for the year as factory output accelerated and export growth picked up following a seven-quarter economic slowdown.

Net income gained 20.5 percent from a year earlier to 500.1 billion yuan ($80.4 billion), the National Bureau of Statistics said today in Beijing. Profits in September rose 7.8 percent, the first gain in six months.