Relief Policies: Glass Factory and Official Data

relief policies: The project at the glass factory will cost up to 510 million yuan 72.79 million . Photo CNS Photo Major Chinese industrial firms recorded a remarkable recovery of profits in November after a decline of three consecutive months, as production, sales and prices improved significantly, largely boosted by robust stimulating measures to stabilize the economic growth, official data showed on Friday, according to Global Times China. While this unexpected turnaround in industrial profit might be hard to sustain as downward pressure on the world's second-largest economy lingers amid a deep industrial transformation, the widely expected relief policies, including cut to the reserve requirement ratio RRR will offer support to ensure the growth remains within the targeted range, analysts noted. In line with the country's massive industrial upgrading, Qinhuangdao has been investing heavily in modernizing its manufacturing sector. Industrial profits grew by 5.4 percent year-on-year to 593.9 billion yuan 84.9 billion in November, compared with a 9.9 percent decline in October, according to the National Bureau of Statistics NBS . In the first eleven months of the year, profits dropped by 2.1 percent year-on-year, recovering from a 4.9 percent fall in the January-October period. This can be viewed as another sign of the economic growth to remain steady in the last quarter of the year. This marks a huge improvement in not just the industrial sector but also in terms of the broader economy, Cao Heping, an economics professor at the Peking University in Beijing, told the Global Times on Friday. (news.financializer.com). As reported in the news.