Industrial profits down a whopping 27% y/y
China’s industrial sector is struggling.
Per the stats bureau's (NBS) September data:
Large industrial companies generated RMB 12.1 trillion in revenue, up a meager 0.7% y/y
But they reported RMB 575.4 billion in profits, marking a whopping 27.1% y/y decline
This sharp drop is dragging...
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