China industrial profits up 19.1% in June despite borrowing cost worries

This signals that economic momentum remains solid as China recorded good performance even in May

Earnings for China's industrial firms surged 19.1 per cent in June from a year earlier, accelerating from May in a sign that economic momentum remains solid, even as rising borrowing costs have raised concerns about pressure on margins.

Profits in June rose to 727.78 billion yuan ($107.83 billion), the National Bureau of Statistics (NBS) said on its website on Thursday.

For the first half of the year, the firms notched up profits of 3.63 trillion yuan, a 22 per cent jump from the same period of last year and just a touch slower from the 22.7 per cent annual growth in the