China profit growth quickens, no harbinger of recovery

China’s industrial profits growth quickened in April from the previous month, though the government noted that the pickup was due mainly to a low comparative base, indicating that the world’s second largest economy still faces slack domestic and external demand.

Chinese firms made profits of 436.7 billion yuan (HK547.5 billion) in April, up 9.3 per cent from the same month last year, quickening from a year-on-year growth of 5.3 per cent in March, the National Bureau of Statistics said on Monday.

via Business feed http://www.scmp.com/business/companies/article/1247261/china-profit-growth-quickens-no-harbinger-recovery