BEIJING - China's industrial enterprises reported a profit increase of 28.3 percent in the first seven months year-on-year to 2.8 trillion yuan ($430.77 billion), the National Bureau of Statistics (NBS) said on Saturday.

The growth rate was slightly down from 28.7 percent in Jan-June.

The data was collected from the a pool of industrial business with at least 20 million yuan of annual sales revenue.