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PrintMajor Chinese industrial firms saw their combined profits rise 24.2 percent year-on-year in August, quickening from the 11.6-percent rate seen in July that points to further evidence of a firming economy, official data showed on Friday.
The profits of industrial companies with annual revenues of more than 20 million yuan ($3.26 million) hit 483.17 billion yuan in August, the National Bureau of Statistics said in a statement.
In the first eight months, their profits rose 12.8 percent to 3.5 trillion yuan.
Friday's data came after a string of other economic indicators, from factory output and retail sales to foreign trade, showed the world's second-largest economy may be gradually stabilizing after a protracted slowdown.
Among the latest evidence, HSBC's preliminary reading for China's manufacturing sector showed the Purchasing Managers Index (PMI) rose to 51.2 in September, the highest level in six months.
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