Beijing: Profits of China's major industrial firms rose steadily in the first 10 months of the year, recording a year-on-year increase of 1.9 percent, according to official data released on Thursday.

According to Emirates News Agency, the National Bureau of Statistics (NBS) stated that the cumulative growth rate has remained positive for three consecutive months since August. Industrial firms with an annual main business revenue of at least 20 million yuan (about US$2.8 million) posted combined profits of 5.95 trillion yuan during the January-October period, the NBS added.