China's industrial profits grow, financial risk hits all-time high

China's industrial firms appear to be growing healthily.

Data on Sunday showed that profits at China’s largest industrial firms rose 17.9 percent in June from the previous year, well up from the 8.9 percent increase in May.

Of some concern, however, is the health of China's financial institutions.

James Hamilton at Econbrowser notes that data from the NYU Stern Volatility Laboratory show that the NYU measure of systemic financial risk for China reached an all-time high this year.