China Industrial Profits Surge In September

(RTTNews) - China's industrial profits increased sharply in September despite continuing trade tensions with the US.

Industrial profits advanced 21.6 percent in September from the previous year, data from the National Bureau of Statistics showed Monday.

Profits logged its fastest growth since November 2023. The latest figure followed an increase of 20.4 percent in August.

During January to September, industrial profits registered an annual growth of 3.2 percent, data showed.

NBS chief statistician Yu Weining said, hi-tech manufacturing and equipment manufacturing led the growth. Low base effects also helped to lift industrial profits, Yu added.

Official data released earlier this month showed that producer prices declined for the 36th straight month in September as government aims to curb excess capacity. The decline in producer prices slowed to 2.3 percent from 2.9 percent in August.