China October industrial profits fall for fifth straight month
Slumping sales, rising costs among reasons cited for 4.6% decline
Beijing
PROFITS earned by Chinese industrial companies fell 4.6 per cent in October from a year earlier, data from the statistics bureau showed on Friday, declining for the fifth consecutive month.
Industrial profits - which cover large enterprises with annual revenue of more than 20 million yuan (S$4.4 million) from their main operations - fell 2.0 per cent in the first 10 months of the year compared with the same period a year earlier, the National Bureau of Statistics (NBS) said on its website.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing