China's Industrial Profit Growth Slows

(RTTNews) - Growth in China's industrial profits eased in June mainly due to a slower growth in business revenue, data from the National Bureau of Statistics showed Saturday.

Combined industrial profits advanced 6.3 percent from the previous year to CNY 502.4 billion, much slower than the 15.5 percent rise in May.

During the first six months of the year, profits were up 11.1 percent compared to 12.3 percent rise during January to May period.

The government this week vowed to introduce new measures, including railway sector reforms and tax breaks for small firms, to counter a slowdown in the world's second largest economy.