Chinese industrial profit growth decelerated in May – but still notched up a third consecutive month of growth, following mainly contraction throughout 2015, the Financial Times reports. Industrial profits at large firms in China rose 3.7% year-on-year in May, according to the National Bureau of Statistics, down from 4.2% in April. In August 2015, profits had contracted at a record pace of 8.8%. That took the year-on-year growth rate to 6.4%. In May it was reported that China is to put trillions of renminbi into transportation infrastructure over the next three years, as Beijing looks to support the country’s flagging heavy industry sector amid a period of lagging state reform and sluggish growth.
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