Trade related industries, such as chemicals, paper, and car parts, all posted double-digit profit declines in October, while industries that contribute to infrastructure construction projects had profits that more than doubled over the last year, ING economists said in a note. Photo: Reuters

Trade war robbing Peter to pay Paul as China’s plummeting industrial profits only tell part of the story

  • Industrial profits plunged 9.9 per cent in October compared to a year earlier, the largest drop since the data was first reported in 2011
  • Trade-related industries under pressure, but infrastructure-related sectors benefiting from government stimulus efforts to offset trade war with the US
Topic |   China economy

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Trade related industries, such as chemicals, paper, and car parts, all posted double-digit profit declines in October, while industries that contribute to infrastructure construction projects had profits that more than doubled over the last year, ING economists said in a note. Photo: Reuters
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October’s fall in industrial profits to was worse than a 5.3 per cent contraction in September. Photo: EPA-EFE

China’s October industrial profits post biggest fall since 2011 amid trade war and sliding producer prices

  • Profits at China’s industrial enterprises shrank 9.9 per cent in October from a year earlier, the biggest fall since 2011
  • The contraction shows continued problems for the world’s second largest economy as it battles slow growth amid a trade war with the United States
Topic |   China economy

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October’s fall in industrial profits to was worse than a 5.3 per cent contraction in September. Photo: EPA-EFE
READ FULL ARTICLE