BEIJING Womens Zane Gonzalez Jersey , Sept. 27 (Xinhua) -- China's major industrial firms posted stronger profit growth in the first eight months of this year as producer prices went up and production costs came down, the National Bureau of Statistics (NBS) said Wednesday.

Industrial companies with annual revenue of more than 20 million yuan (about 3.02 million U.S. dollars) reported profits of 4.92 trillion yuan in the first eight months, a 21.6-percent increase from one year earlier, the NBS said in a statement.

The strong growth marks a pick-up from the 21.2 percent in the January-July period.

In August alone, profits of major industrial firms jumped 24 percent year on year, much faster than the 16.5-percent growth in July Womens Howard Wilson Jersey , the NBS said.

Among the 41 industries surveyed, 39 posted year-on-year profit growth during the first eight months.

NBS statistician He Ping said the strong growth was a result of price hikes in industrial products and lower production costs.

China's producer price index (PPI), which measures costs of goods at the factory gate, rose 6.3 percent year on year in August, 0.8 percentage points higher than the July level.

The price rebound has added some 127.3 billion yuan to the August industrial profits, accounting for 31.2 percent of the total profit increase last month Womens Larry Ogunjobi Jersey , said He.

The trend was particularly evident in sectors such as the petroleum, steel and electronics industries, the statistician said.

In August, the oil and natural gas exploitation industry's profits went up 4.94 billion yuan from a year ago, but in July, it suffered a decrease of 1.03 billion yuan in profits.

Meanwhile Womens DeShone Kizer Jersey , for each 100 yuan of revenue, companies had to spend 85.44 yuan, a 0.64-yuan decrease from the same period last year, NBS data showed.

He also mentioned that the leverage ratio of Chinese industrial firms is on the decline amid the government's ongoing supply-side structural reform. By the end of August, their debt-asset ratio dropped 0.7 percentage points from a year ago to 55.7 percent.

The industrial sector, which accounts for about one-third of China's GDP Womens David Njoku Jersey , started to pick up last year after a bad 2015. The upbeat August profits data has added to evidence of resilience in the sector and steady improvement in the overall economy.

China's value-added industrial output grew 6 percent year on year in August, previous NBS data showed. On a monthly basis, industrial production edged up 0.46 percent in August compared to July.

China's economy expanded 6.9 percent for the first half of 2017, above the government's 2017 full-year target of around 6.5 percent.

The Asian Development Bank projected earlier this week that China's economic growth will be 6.7 percent for this year and 6.4 percent for 2018.

In an update of the Asian Development Outlook 2017, its flagship annual economic publication, the bank said better-than-expected external demand Womens Jabrill Peppers Jersey , proactive fiscal policy and strong domestic consumption have combined to drive up China's growth.

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" (From L to R)British Foreign Secretary Boris Johnson, British Environment Secretary Michael Gove, WWF-UK Chief Executive Tanya Steele and Zhu Qin, Minister-Counsellor at the Chinese Embassy in the UK Rashard Higgins Jersey , pose for a photo during a press briefing on China's full implementation of the ban on ivory trade, in London, Britain, on Jan. 31, 2018. British Foreign Secretary Boris Johnson has praised China's total ban on ivory trade as an important and far-reaching decision. (XinhuaHan Yan)

LONDON, Feb. 1 (Xinhua) -- British Foreign Secretary Boris Johnson has praised China's total ban on ivory trade as an important and far-reaching decision.

""China has struck a blow against elephant poaches by closing down its domestic ivory market Trevon Coley Jersey ,"" said Johnson in a press briefing on China's full implementation of the ban on ivory trade. The event was jointly held in the British Parliament Wednesday by the WWF, All Party Parliamentary China Group and the Chinese Embassy in the UK.

""China's enlightened and foresighted decisions, would give humanity a chance to reverse the tragic decline of the African elephant,"" said Johnson, stressing that the British side is willing to work with China to combat poaching and protect rare wild species.

Existing rules allow for ""worked"" or carved items produced before March 3, 1947 to be sold in the UK while sale of raw ivory of any age is prohibited. Johnson said he looks forward to seeing a complete ban on the sale of ivory in Britain and the EU.

""The only question is where we have the collective will. And I believe that today is a manifestation Randall Telfer Jersey , I think it's great that the UK and China are united and expected on this, on this policy, we are more forward looking the ambitious in our ban and the European union,"" the British minister said.

Zhu Qin, Minister-Counsellor at the Chinese Embassy in the UK, said protecting the wildlife is a key to save environment. ""Out planet is our only home. It is also crucial to the future of human civilization. In the past five years Seth DeValve Jersey , china has make remarkable progress in building ecological civilization both at home and for ecological Conservation of the world,"" he said.

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