(Yicai) Dec. 27 -- Chinese industrial enterprises reported a smaller decrease in profits for the second consecutive month in November, while revenue returned to growth amid supportive policies.

Industrial enterprises with annual revenue exceeding CNY20 million (USD2.7 million) earned CNY799.4 billion (USD109.5 billion) in total profits, down 7.3 percent from a year ago, according to data released by the National Bureau of Statistics today. This marks an improvement from October's 10 percent decline and September's 27.1 percent plunge.

Revenue rose 0.5 percent year-on-year to CNY12.5 trillion (USD1.7 trillion), reversing October's 0.2 percent decline.

China's continued promotion of high-end, intelligent, and green manufacturing has yielded results. Manufacturers of wearable smart devices saw profits surge 90 percent year-on-year, while optoelectronic device makers reported a 41 percent increase, and lithium battery manufacturers recorded 35 percent growth, said Yu Weining, NBS statistician.

In addition, policies encouraging replacement of old home appliances and equipment boosted profits. Home cleaning appliance manufacturers' profits quadrupled in November, while refrigeration equipment makers saw an 83 percent increase, and special equipment companies reported 37 percent growth, Yu added.

While recent policies have provided some support for industrial profits, recovery in coming months faces challenges, Wu Chaoming, chief economist at Chasing Financial Holding, told Yicai. These include uncertain confidence among private and real estate enterprises, and continued negative growth in the producer price index.

For the first 11 months of this year, industrial enterprises' profits totaled CNY6.7 trillion (USD917.9 billion), down 4.7 percent year-on-year, while revenue increased 1.8 percent to CNY123.5 trillion (USD16.9 billion).

Editors: Dou Shicong, Emmi Laine