Annual profits at China’s industrial companies rose 24 percent in August Air Vapormax Pink , accelerating from the previous month in an indication economic growth remains in good heart even as signs emerge of fading momentum following a robust first half.

The upbeat earnings is another sweetener for authorities as Beijing focuses on stripping out financial risks from years of debt-fueled growth and keeping the economy on a steady footing ahead of a crucial party gathering next month

Profits in August jumped 24 percent to 672 billion yuan ($101.21 billion), the biggest percentage jump since the January-Feb period, the National Bureau of Statistics (NBS) said on Wednesday. Annual profit growth was 16.5 percent in July.

For the first eight months this year, the firms notched up profits of 4.92 trillion yuan, an increase of 21.6 percent from the same period last year Air Vapormax Platinum , picking up slightly from the 21.2 percent annual growth in the January-July period.

The robust industrial earnings growth in August was driven by higher prices, particularly in sectors such as oil, steel and electronics, He Ping of the National Bureau of Statistics said in a statement accompanying the data.

He estimated that surging prices contributed nearly one third of the new profits in August.

That was backed by data showing China’s producer price inflation accelerated more than expected to a four-month high in August, fueled by strong gains in raw materials prices and pointing to strong Air Vapormax Off White , sustained growth for both factory profits and the economy.

Industrial sector earnings have enjoyed a spurt from a year-long, government-led construction boom, which has fueled demand and prices for building materials.

China’s push to cut excess capacity in heavy industries and its war on pollution has also appeared to intensify a short-term supply shortage and higher prices.

The earnings data by sector, however, highlights the uneven nature of profit growth.

Mining industry profits soared 5.9 times from a year earlier while manufacturing profits rose 18.6 percent. Sectors such as electricity Air Vapormax White , gas and water production however saw their profits plunge 22.6 percent.

Profits at China’s state-owned industrial firms were up 46.3 percent at 1.08 trillion yuan in January-August, compared with a 44.2 percent rise in the first seven months. But earnings for all SOEs for August alone were only up 4.3 percent on-year, Reuters calculations show.

A raft of August data back analysts’ expectations for the economy to slow over coming months, as efforts by policymakers to clamp down on debt risks and defuse property market bubble have raised financing costs and generally tightened monetary conditions.

The data encompasses large companies with annual revenue of more than 20 million yuan from their main operations.

Park Geun-hye (center), former president of South Korea Air Vapormax Black , leaves the Seoul Central Prosecutors' Office in Seoul on Friday. A South Korean court has ordered the arrest of Park after prosecutors sought to detain her on suspicion of bribery and abuse of powers. Photo: CFP

South Korea's ousted president Park Geun-hye was spending her first day in custody Friday after a court ordered her arrest, with her opponents crowing and her supporters crying.

The former head of state stared straight ahead, apparently trying to maintain her composure, as she was driven to the Seoul Detention Center through a barrage of flashbulbs shortly before dawn.

After a marathon hearing on Thursday a court in the capital ordered Park's arrest in connection with the corruption scandal that brought millions of people onto the streets and saw her impeached.

Prosecutors have yet to specify the formal charges against her, but have previously said she is suspected of bribery Air Vapormax Flyknit , abuse of authority, coercion, and leaking government -secrets.

"It is justifiable and necessary to arrest [Park] as key charges were justified and there is risk of evidence being destroyed," the court said.

The decision made Park, 65 Air Vapormax , the third former leader to be arrested over corruption in Asia's fourth-largest economy, where politics and big business have long been closely tied.

It is a dramatic step in the disgrace of South Korea's first woman president.

The liberal Democratic -Party, which is favorite to win the election on May 9 to choose Park's successor, said the move showed "all are equal before the law."

"We hope today's landmark decision will provide fresh momentum in revealing the truth about the scandal of an unprecedented scale," it added.

But Park's own Liberty -Korea party Nike Vapormax 2018 , which has changed its name in an effort to distance itself from her, called the move "regrettable."

Loyalist lawmaker and -presidential hopeful Kim Jin-tae was furious, calling it "the death knell for the country's rule of law."

While in office, Park took a tough approach to nuclear-armed North Korea, repeatedly calling for stronger international sanctions against the regime and openly urging more of its citizens to defect to the South Nike Vapormax Blue , and Pyongyang's official news agency were relatively quick to report her arrest.

"Traitor Park was ... thrown into a solitary cell in a prisoner uniform," the state KCNA news agency said, adding her detention was "welcomed" by South Korean media and a "majority of the people."

NEW YORK， July 5 (Xinhua) -- Oil prices suffered big losses Tuesday as investors worried that Britain's exit from the European Union would slow the global economy.

The West Texas Intermediate for August delivery dropped 2.39 U.S. dollar to settle at 46.60 dollars a barrel on the New York Mercantile Exchange， while Brent crude for September delivery plunged 2.14 dollar to close at 47.96 dollars a barrel on the London ICE Futures Exchange. Enditem

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