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Economic Watch: China's industrial profits sustain sound growth in first three quarters******
BEIJING, Oct. 27 (Xinhua) -- Profits of China's major industrial firms maintained sound growth momentum in the first three quarters of the year as industrial production continued to recover and business operations kept improving, official data showed on Wednesday.
Industrial firms with annual business revenues of at least 20 million yuan (about 3.1 million U.S. dollars) saw their combined profits jumping 44.7 percent year on year in the January-September period to top 6.34 trillion yuan, data from the National Bureau of Statistics (NBS) showed.
The volume surged 41.2 percent compared with the 2019 level, putting the average January-September growth for 2020 and 2021 at 18.8 percent.
In September alone, profits of major industrial companies soared 16.3 percent year on year to 738.74 billion yuan, quickening from the 10.1-percent gain reported in August, according to the NBS.
In the first nine months, 29 out of 41 industries saw an expansion in their profits compared with the same period in 2019, while the overall performance of most industries was better than the pre-epidemic level, said senior NBS statistician Zhu Hong.
The high-tech manufacturing sector led the growth, with its profits growing 33.6 percent year on year over the same period.
In particular, boosted by the surging demand for vaccines at home and abroad, the pharmaceutical manufacturing sector continued high-speed growth since the beginning of the year and soared 66.8 percent during the period.
An obvious profit expansion in mining and raw material manufacturing industries has underpinned the headline figures, Zhu noted.
Profits in the coal mining industry jumped 272 percent year on year for the January-September period, while the oil and gas exploitation industry saw its earnings skyrocket 297 percent.
Zhu said that high commodity prices and unsmooth operations of supply chains have constrained the continuous improvement of the companies' profitability.
"The imbalanced profit distribution between upstream and downstream industries is meanwhile fairly prominent, and the foundation for the recovery still needs firming up," Zhu added. Enditem
Slovan Bratislava dominates Slovak Tipos Extraliga with 5 consecutive wins******
BRATISLAVA, Nov. 1 (Xinhua) -- Ice hockey club Slovan Bratislava remains the undisputed Slovak Tipos Extraliga leader after winning its fifth consecutive fixture on Sunday, edging out HC Kosice in the traditional West-East derby 3-2.。
Visiting forward Michal Chovan opened the score in the capital city, but Slovan Bratislava answered with three consecutive goals of their own to overturn the derby between the two largest towns from opposite ends of the country.。
Kosice cut the deficit to one early in the final period but failed to push the game into overtime, ending its series of three wins in a row.。
"We lost a couple of players during the game due to injuries and were forced to improvise our formations. We finished the game with five defenseman and eight forwards. We are happy about the streak; the morale is always high when we win," stated Slovan coach Robert Doeme.。
In the battle of the two Duklas, Trencin showed no mercy to Michalovce with a 5-1 win, as the visitors were up 2-0 going into the final period after Radoslav Tybor scored his 100th Extraliga goal.。
Trencin then punished the home team's tactics of pulling the goalie with three more shorthanded goals, two by the 21-year-old forward Jakub Minarik, to put the game away.。
Also, on Sunday, HK Nitra suffered the worst defeat of the season, getting overpowered by HKM Zvolen 5-1.。
The visitors dominated, especially in the second period, scoring three goals within five minutes, building a comfortable 4-0 lead backed by a superb Swedish goalie Robin Rahm who finished the night with 34 saves.。
In the battle between two struggling teams, HC Nove Zamky was up 3-1 after the first period thanks to Canadian forward Chirs Langkow's two goals, the first of the season.。
MHK 32 Liptovsky Mikulas succeeded in tying the game up in the second period as they also produced a two-goal forward Marek Hovorka who scored the 4-3 game-winner while killing a penalty in the 53rd minute.。
The remaining two fixtures of the 13th round had to be postponed due to health-related issues of the players. Enditem。
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