Profits rose for a sixth straight month in October, after increasing by 10.1% year-on-year in September, the data from the National Bureau of Statistics (NBS) showed.
For the January-October period, industrial firms’ profits rose 0.7% on an annual basis, after falling 2.4% in the first nine months of 2020 compared with the same period last year.
Liabilities at industrial firms rose 6.8% on-year at end-October, versus a 6.6% growth as of end-September.
China’s industrial sector has seen an impressive recovery from the coronavirus shock earlier this year, helped by resilient demand for the country’s exports. Premier Li Keqiang said on Tuesday he expects Chinese economic activity to return to a reasonable range next year.