China's industrial profits soar by 17.3%

Total profits get 5.3% boost.

According to BBVA Research, China's industrial profits rose by 17.3% y/y for the month of December, pointing to a continued improvement in the outlook for the corporate sector and overall growth. "The outturn brings total profits for 2012 to RMB 5.56trn, an increase of 5.3% from 2011. The data add to signs that the economy picked up in Q4, when GDP growth rose by a better-than-expected 7.9% y/y," BBVA said.