Profits in the car manufacturing sector slumped 25.9 per cent, as China’s car sales fell 15 per cent year-on-year in April, the 10th consecutive monthly decline. Photo: Xinhua

China’s industrial profits post biggest drop in nearly three and a half years

  • April’s 3.7 per cent drop, the largest decline since December 2015, led by state-owned industrial firms, whose profits dropped 9.7 per cent
  • Date comes as a further blow to the Chinese economy in the month before the escalation of the trade war with the United States
Topic |   China economy

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Profits in the car manufacturing sector slumped 25.9 per cent, as China’s car sales fell 15 per cent year-on-year in April, the 10th consecutive monthly decline. Photo: Xinhua
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Orange Wang

Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.