China March industrial revenue surges 23.8% on property

China March industrial revenue surges 23.8% on property

In March revenues earned by China's industrial companies grew 23.8% from a year earlier, actually buoyed by an ongoing boom in the real estate sector, although the surge was off multi-year peaks observed in previous months.

Revenues in March inched up to 688.7 billion Yuan, as the National Bureau of Statistics revealed on its website on Thursday.

In the first quarter, industrial revenues ascended 28.3% to 1.7 trillion Yuan, sliding from surge of 31.5% in the first two months.

A construction boom in China has spurred sales as well as prices of building materials, recovering revenues for long-ailing "smokestack" industries, including smelters and steel mills.

However, some experts point out that producer price inflation is actually peaking that could potentially temper profitability as well as new investment later this year.

Decent first-quarter revenues along with a surge of 14.1% in fiscal revenue have formed an excellent foundation for improved surge quality in 2017, as some financial experts state.  




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