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China’s industrial profits return to growth in first 2 months

Official data shows China’s industrial profits returned to growth in the first two months of 2016, logging a 4.8 percent rise from a year ago.

The data compiler, National Bureau of Statistics, says the profit increase is attributed to faster sales growth in industrial products, a slow drop in manufacturing costs, as well as rising profits in petro-chemical, electric mechanics and food sectors.

At the same time, mining and ferrous metal processing companies saw a drastic decrease in profits, and experts say this weakness is likely to continue.