Video PlayerClose BEIJING, Nov. 28 (Xinhua) — The following are the highlights of China’s business news from the past week: INDUSTRIAL PROFITS — Profits of China’s major industrial firms totaled 642.91 billion yuan (about 97.77 billion U.S. dollars) in October, increasing by 28.2 percent year on year, data from the National Bureau of Statistics showed Friday. The pace of growth quickened 18.1 percentage points from September. In the first 10 months of the year, the profits of major industrial firms expanded 0.7 percent year on year to 5.01 trillion yuan, reversing the 2.4-percent decline in the January-September period. PENSION FUND RETURN — China’s basic pension fund saw a return on investments of 9.03 percent last year, the Ministry of Human Resources and Social Security said Tuesday. The fund, run by the National Council for Social Security Fund, earned investment income totaling 66.39 billion yuan last year, data from the ministry shows. The total assets of the fund had reached over 1 trillion yuan by the end of last year. YUAN BONDS — China’s Ministry of Finance issued yuan-denominated treasury bonds worth 5 billion yuan in the Hong Kong Special Administrative Region on Wednesday. The bonds included 3.5 billion yuan of… Read full this story
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