Despite profits, growth slows for listed companies

Third-quarter net profits of 645 Chinese listed firms fell by an average 16.07% from the previous quarter, state media reported. The decline comes despite the fact that profits for the first nine months were up 30.1% from the same period last year, the Shanghai Securities Journal reported. Rising costs and falling product prices were the main factors mentioned for the drop in profits. Nearly 1,000 other listed companies have yet to file their quarterly reports.