China's automotive manufacturing industry saw profits hike 43.9 percent year on year in August, with the growth rate up 24.9 percentage points compared with that in July, according to data released by the National Bureau of Statistics (NBS).
Auto sales rose 8.6 percent on year in the first eight months of 2016, with the sales rising 13.1 percent year on year in August, up 3.9 percentage points than growth rate July, according to a report by the Xinhua-run cnstock.com.
Meanwhile, industries such as coal and steel also saw improving profitability due to rising commodity prices as well as capacity reduction.
Total profits of coal mining and washing industries, for example, rose 15 percent year on year in the first eight months, while that of non-ferrous metal smelting and rolling processing rose 31.1 percent on year.
In August alone, profits of ferrous metal smelting and rolling processing rose 21.04 billion yuan than August of 2015, registering a new high in terms of single month increment.
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