China's industrial profits rebounded with 7.7% growth in Q3

China's industrial profits, or profits of its major industrial firms, recovered to a 7.7 percent year-on-year growth in the third quarter, said the National Bureau of Statistics on Friday, which added to signs of economic recovery amid strengthening supportive policies. 

According to the NBS, the growth reversed a decline of five consecutive quarters. For September alone, industrial profits registered an 11.9 percent year-on-year increase, right after a stronger-than-expected 17.2 percent jump in August. 

Though the industrial profit dropped 9 percent year-on-year in the first nine months in total, the drop narrowed by 7.8 percentage points and 12. 4 percentage points from that of the first half and the first quarter. 

Yu Weining, a statistician at the NBS, attributed the improvement in industrial profits to the steady rebound in industrial production and market amid a series of stimulus measures gradually taking effect.