China's industrial profits up 22% in H1

BEIJING — Chinas major industrial firms posted steady profit growth in the first half of the year further evidence of firming strength in the economy official data showed Thursday The companies reported a 22percent profit increase in the first six months from one year earlier slowing from 227 percent in the JanuaryMay period but much faster than the 85percent increase in 2016 the National Bureau of Statistics said in a statement In June alone profits of major industrial firms rose 191 percent yearonyear faster than the 167percent rate in May it said