China's industrial enterprises saw a 40 percent profit increase year-on-year in the first ten months of this year, making 900 billion yuan, or 109 billion US dollars.

Slightly down from a growth rate of 39.8 percent recorded in the first nine months, the figure covers all state-owned and state-controlled enterprises, as well as privately owned ones.

Among the 39 major industrial sectors, steel, non-ferrous metal and construction material enjoyed profits increase by 70 percent though they have been the target of a government crackdown on excessive investment.

Other sectors like oil exploration, chemical engineering and telecommunications also saw significant profit increases.

(CRI.com November 23, 2004)