China August Industrial Profits

Economy

Profits at major Chinese industrial enterprises slowed to 680.3 billion yuan ($105 billion) in August, growing 10.1% year-on-year, data from China’s National Bureau of Statistics show. This compares with 703.7 billion in July, up 16.4%.

In the eight-months covering January-August, industrial profits rose by 49.5% as the economy rebounded from Covid-driven disruption in 2020. There was a -4.4% contraction in industrial profits in the same period last year.