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China industrial profits rise to 626b yuan in May; but will fade as finance costs kick in

With producer price inflation reaching its peak, gains are expected to see attrition later in the year

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China's factory inflation eased for the third straight month in May on sagging prices of raw materials, signalling a broader cooling in economic activity as profits are squeezed by slackening domestic demand and rising financing costs.

Beijing

PROFITS at China's industrial companies surged 16.7 per cent in May from a year earlier, accelerating from April and defying expectations of a slowdown in the face of rising borrowing costs and a cooling property market.

Profits in May rose to 626 billion yuan (S$127.46

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