BEIJING, Sept. 27 (Xinhua) -- China's industrial profits rose 19.5 percent year on year to 534.8 billion yuan (about 80.3 billion U.S. dollars) in August, official data showed Tuesday.
The growth rate was faster than the 11-percent increase registered one month earlier, according to the National Bureau of Statistics (NBS).
In the first eight months of the year, industrial profits expanded 8.4 percent year on year, compared with a 6.9-percent rise during the January-July period.
The bureau's calculations include companies with annual revenues exceeding 20 million yuan.
NBS statistician He Ping said the August growth rate was the fastest monthly rate so far this year. He attributed the improvement to rising production and sales, a recovery in manufactured goods prices, lower operating costs, and a lower comparison base from last year.
The bullish performance of automobile, steel and oil processing industries also pushed the August growth rate higher, He said.
Because of strong output and sales, profits in the auto industry surged 43.9 percent year on year, compared with a 19-percent increase registered in July.
During the first eight months, 33 of 41 industrial sectors reported year-on-year rising profits, with high-tech sectors, including computers and telecommunications, posting profit increases of 19.8 percent year on year.
In contrast, electricity, energy production and the supply industry witnessed a 3.9-percent decrease in profits during the same eight-month period. Oil and gas exploitation also posted losses.
Foreign-invested companies posted strong profit growth of 10 percent in the first eight months, while state-owned enterprises dropped 2.1 percent year on year.
Despite the positive profit data, He Ping warned of a grim outlook for industrial enterprises partially due to sluggish demand at home and abroad.Traditional industries, especially those beset by overcapacity, still face difficulties.
ADDIS ABABA Case Keenum Jersey , Aug. 28 (Xinhua) -- Ethiopian President Mulatu Teshome has called on 12 newly appointed ambassadors, including Ethiopian Ambassador to China, to boost the east African country's position in bilateral and multilateral standings.
The president, in his farewell message to Brhane Gebrekirstos Danielle Hunter Jersey , the newly appointed Ethiopian Ambassador to China, and 11 others ambassadors in overseas late on Sunday, has stressed the need to further enhance Ethiopia's position in bilateral and multilateral relations and scale up its standing in regional, continental and global spheres.
Gebrekristos Eric Kendricks Jersey , who was recently served as a foreign mission special envoy to the Ethiopian Prime Minister Hailemariam Desalegn following his position as a Deputy Foreign Affairs Minister from 2010 to 2015, has been appointed by the president as Ethiopia's ambassador to China last week.
Noting that Ethiopia has managed to become one of the world's fastest economies together with a leading role in promoting regional and global peace and security, the president further urged the ambassadors to exploit these opportunities in their endeavor to ascertain Ethiopia's national interest.
Teshome also affirmed that the ambassadors are entrusted with responsibilities of maximizing Ethiopia's economic diplomacy pursuits.
Workneh Gebeyehu, Ethiopian Minister of Foreign Affairs Trae Waynes Jersey , who noted the successful experience of the newly appointed ambassadors in various high-level positions and greater responsibilities in their previous assignments in public offices, also expressed his expectations that they would effectively implement their diplomatic mission.
Gebrekirstos was previously Ethiopia's ambassador to the European Union and the Benelux from 2002 to 2010 and Ambassador to the United States from 1992 to 2002. He will replace Seyuom Mesfin, who served as Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to China for the last 6 years.
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CHICAGO, Aug. 22 (Xinhua) -- Gold futures on the COMEX divisionof the New York Mercantile Exchange fell on Tuesday Ben Gedeon Jersey , as strength inthe U.S. dollar pressured the precious metal into giving back allof the previous session's gains.
The most active gold contract for December delivery went down5.7 dollars, or 0.44 percent, to settle at 1,291 dollars perounce.
The greenback Jaleel Johnson Jersey , as measured by the U.S. Dollar Index climbed by0.5 percent as 1930 GMT. A stronger dollar tends to weigh ondollar-denominated gold prices.
Traders and investors also took positions ahead of the three-dayeconomic policy symposium of global central bankers in Jackson Holeof Wyoming beginning Thursday. They will be looking for hints fromcentral bankers on any changes to monetary policy.
Higher rates tend to boost the dollar, cutting demand for goldinvestors using other currencies. Higher rates also boost theappeal of investments that offer a yield, which gold does not.
As for other precious metals, silver for September delivery fell3.3 cents Pat Elflein Jersey , or 0.19 percent, to close at 16.982 dollars per ounce.Platinum for October dropped 4.2 dollars, or 0.43 percent, tosettle at 981.3 dollars per ounce. Enditem
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