Beijing's industrial profits up 3% in 11 months

BEIJING -- The profits of major industrial firms in Beijing Municipality rose 3 percent year-on-year to 156.46 billion yuan ($24 billion) in the first 11 months of this year, authorities said Tuesday.

Among the 39 major industrial sectors, 20 saw year-on-year growth in profits from January to November, according to the Beijing Municipal Bureau of Economy and Information Technology.

The auto manufacturing sector reaped a total profit of 36.42 billion yuan during the period, up 24.7 percent year-on-year, while the profit in manufacture of computer, information technology and other electronic products rose by 9.2 percent year-on-year to 20.59 billion yuan.

Major industrial companies refer to those with an annual business turnover of at least 20 million yuan.