The net income earned by China's industrial companies surged in December, indicating an improvement in the economic condition of the worlds’ second largest economy.
According to the data released Monday by the National Bureau of Statistics of China (NBS), profits of industrial companies in the country rose 17.3 percent in December compared to that in the same month of the previous year following an increase of 22.8 percent in November.
This report comes after it was revealed last week that China's manufacturing activity expanded to a two-year high in January, according to the HSBC Purchasing Managers’ Index (PMI). The preliminary flash reading of the PMI, a measure of the nationwide manufacturing activity, rose to 51.9 in January compared to 51.5 in December. Significantly, the index continued into the expansion zone, a reading above 50. The expansion of the manufacturing activity should allay the fears about a sharp retardation of the Chinese economy.
Read More on International Business Times Reported by IBTimes 6 hours ago.
According to the data released Monday by the National Bureau of Statistics of China (NBS), profits of industrial companies in the country rose 17.3 percent in December compared to that in the same month of the previous year following an increase of 22.8 percent in November.
This report comes after it was revealed last week that China's manufacturing activity expanded to a two-year high in January, according to the HSBC Purchasing Managers’ Index (PMI). The preliminary flash reading of the PMI, a measure of the nationwide manufacturing activity, rose to 51.9 in January compared to 51.5 in December. Significantly, the index continued into the expansion zone, a reading above 50. The expansion of the manufacturing activity should allay the fears about a sharp retardation of the Chinese economy.
Read More on International Business Times Reported by IBTimes 6 hours ago.