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Industrial profits up by 13.5 percent to $78.5b

Industrial profits in China grew by 13.5 percent from a year earlier in July to 482.3 billion yuan ($78.51 billion), 4.4 percentage points below that of June but the second-highest rate so far this year. Aggregate industrial profit through July grew 11.2 percent, 0.4 percentage point higher than the aggregate through June, the National Bureau of Statistics said on Thursday. Steady profit growth in July was attributed to measures rolled out by the central government to promote growth and tame rising costs.

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