According to the National Bureau of Statistics (NBS), the figures reached five trillion 230 billion yuan ($735 billion 410 million) from January to September.

The high-tech manufacturing sector, which represents emerging industries, showed accelerated growth during this period, reflecting the resilience of industrial economic development, statistician for NBS, Yu Weining explained.

Among the issues that contributed to the decline in earnings growth rates, Yu highlighted the significant increase in the year-on-year comparison base since August, insufficient effective demand and the fall in prices of industrial goods.

In September alone, profits of industrial companies fell 27,1% year-on-year.

Thanks to the rapid growth of production, profits in high-tech manufactures grew by 6,3% year-on-year, a rate that exceeds by 9,8 percentage points the overall average of major industrial companies and contributed 1,1 percentage points to the overall growth of industrial profits, the expert stressed.

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