Industrial earnings show upgrading pays dividends

Profits earned by major industrial firms witnessed steady growth in June, the latest sign of continued recovery in the world's second-largest economy.

Profits made by major industrial companies rose 19.1 percent year-on-year in June, up from the 16.7-percent growth in the previous month, data from the National Bureau of Statistics showed on Thursday.

Structural improvements in the industrial sector paid off, with profits earned by high-tech manufacturing increasing in June, while profits in traditional sectors such as mining declined during the same period.