China’s industrial profits bounce back in July, but long-term view remains negative amid trade war escalation

• Profits at China’s large industrial firms recovered in July, posting year-on-year growth of 2.6 per cent, following a decline of 3.1 per cent slump in June
• However the overall picture is negative, with total industrial profits down 1.7 per cent so far this year, led by an 8.1 per cent slump by state sector firms