China has redeployed 280,000 steel workers, which is more than the combined deployed number of steel workers in the US, the EU and Japan, according to the country’s commerce ministry. Photo: AP

China says it has done more than its share to cut steel production as global forum is scrapped

  • The last meeting of the Global Forum on Steel Excess Capacity failed to produce any major agreements from the participating countries
  • China called for the organisation to be dissolved amid disagreement over how to coordinate industrial policies
Topic |   China economy

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China has redeployed 280,000 steel workers, which is more than the combined deployed number of steel workers in the US, the EU and Japan, according to the country’s commerce ministry. Photo: AP
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The profit fall in September for China’s industrial sector marks an acceleration from the drop of 2 per cent in August and is the biggest decline since August 2015. Photo: Reuters

China industrial profits in biggest fall in four years as US tariffs bite

  • Profits at China’s industrial enterprises shrank 5.3 per cent in September, marking the deepest fall in four years, according to data from the National Bureau of Statistics
  • The fall of profits shows trouble for the world’s second biggest economy as the trade war with the US takes toll on China’s economic activity
Topic |   China economy

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The profit fall in September for China’s industrial sector marks an acceleration from the drop of 2 per cent in August and is the biggest decline since August 2015. Photo: Reuters
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