Growth of industrial profits at 6-year high

China's industrial enterprises registered their highest profit growth in six years in 2017, due to overcapacity cuts and cost reduction efforts, and analysts said the trend of steady industrial profit growth may continue this year.

Profits surged by 21 percent year-on-year to hit 7.519 trillion yuan ($1.19 trillion), the fastest pace since 2011, when growth reached 25.4 percent, according to data released by the National Bureau of Statistics on Friday. In 2016, profit growth was 8.5 percent.

In December 2017, growth was 10.8 percent, compared with 14.9 percent in November.