China's April industrial profits see first annual rise in six months

China’s industrial sector profits rose 2.6% in April from a year earlier, though down 1.3% for the year to date, nonetheless marking their first annual rise in six months, Reuters reported, citing data from the National Bureau of Statistics. Analysts the recent bounce in oil prices as a major factor helping profits rebound. “Currently we’re seeing some margin pick-up coming from the bounce back in oil prices, but the underlying worry on volumes is that growth continues to grind lower and lower,” said Thomas Gatley, China Corporate Analyst at economics consultancy Gavekal Dragonomics.