High-end industrial sectors see positive signs

Profits of China's major industrial firms dropped 2.9 percent year-on-year in the first 10 months, while high-end sectors and some key industries saw signs of a rebound, the National Bureau of Statistics said on Wednesday.

Officials and analysts said that although the decline widened from a 2.1 percent fall in the first nine months, the increase in high-end sectors showed the country is marching toward higher-quality development.

Industrial profits shrank 9.9 percent year-on-year in October to 427.56 billion yuan ($60.83 billion), the NBS said.