China's industrial profits up 11.6% in July

China’s industrial enterprises saw their earnings increase by 11.6% in July from a year earlier, the latest sign of recovery after months of lukewarm growth, The Wall Street Journal reported. That beats June’s 6.3% growth and follows improvements in exports, industrial output and the purchasing managers index which suggested the economy picked up in July. Total profits came to US$68.6 billion (RMB419.6 billion) in the month, China’s National Bureau of Statistics said on Tuesday. Only enterprises with annual revenue above US$3.27 million (RMB20 million) are included in the figures.