China's Q1 industrial profit up 10.1 pct

Chinese industrial businesses saw their profits rise by 10.1 percent year on year in the first quarter of 2014, official data showed on Sunday.

Total profits of industrial companies with annual business revenue of more than 20 million yuan (3.25 million U.S. dollars) reached 1.3 trillion yuan from January to March, the National Bureau of Statistics said in a statement.

The profits growth accelerated compared with a 9.4-percent increase recorded in the first two months.