Industrial sector's profits increase in Oct

Figures are seen as strong evidence of stabilization in the economy

Industrial companies saw their profits rise 15.1 percent year-on-year in October, slowing from the 18.4 percent growth seen in September, official data showed on Thursday.

The total profits of industrial companies with annual revenue of more than 20 million yuan ($3.3 million) reached 581.04 billion yuan in October, the National Bureau of Statistics said.