Profit growth in China’s industrial sector picked up in October, on back of stronger sales and higher prices. That’s according to the National Bureau of Statistics. Profits in October gained 9.8 percent to 616.1 billion yuan. For the first ten months, industrial profits rose 8.6 percent from a year ago.
Analysts say the data point to a stabilizing economy, but they also cautioned that the rise is over reliant on rising prices in commodities and tightened supply, so the industrial structure is not ideal.