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China industrial profits rise 20% y/y in June

BEIJING, July 27 (Reuters) - Profits at China’s industrial firms rose 20% in June from a year earlier to 791.8 billion yuan ($122.27 billion), official data showed on Tuesday.

Profit growth slowed from the 36.4% increase seen in May, according to the National Bureau of Statistics.

The industrial profit data covers large firms with annual revenue of over 20 million yuan from their main operations.

For the January-June period, industrial firms’ profits grew 66.9% from the same period a year earlier to 4.2 trillion yuan. ($1 = 6.4757 Chinese yuan) (Reporting by Stella Qiu and Gabriel Crossley; Editing by Ana Nicolaci da Costa)

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