Industrial profits rise in further recovery

Profits at China's major industrial companies rose 0.7 percent year-on-year in the first 10 months, turning positive for the first time this year and suggesting the country's economic rebound is gaining momentum despite the impact of COVID-19, said officials and experts.

For the January-October period, profits at China's large industrial firms, those with annual revenue of at least 20 million yuan ($3 million), reached 5 trillion yuan, the National Bureau of Statistics said on Friday.

Profits in October surged 28.2 percent year-on-year, 18.1 percentage points higher than that in September, the NBS said.