FX.co ★ China's Industrial Profits Growth Softens

In the January to May period, China's industrial profits rose at a decelerated rate, according to data released by the National Bureau of Statistics on Thursday.

The National Bureau of Statistics reported that industrial profits saw an annual growth of 3.4 percent during the first five months of the year, a decrease from the 4.3 percent growth observed between January and April.

The equipment manufacturing sector was the most significant contributor to the overall increase.

In May, profits at large companies saw a modest annual increase of 0.7 percent, following a 4.0 percent expansion in the previous month.