China's September industrial profits up 4.1% y-o-y

[BEIJING] Profits at China's industrial companies in September rose 4.1 per cent from a year earlier, but slowed from 9.2 per cent in August, the National Statistics Bureau (NBS) said on Saturday.

Industrial profits increased 14.7 per cent in the first nine months of the year from same period year earlier, versus a 16.2 per cent growth in January-August period.

Industrial firms' liabilities rose 6.1 per cent from a year earlier by the end of September to 63.1 trillion yuan (S$12.6 trillion), compared with an increase of 6.6 per cent by end-August.

Chinese policy makers are trying to walk a tightrope between supporting economic growth and tamping down financial risks. A heated trade war with the United States has added to the pressure on overall output, and threatens to chill business investments and earnings growth.

Data earlier last week showed the economy growing at the weakest pace since the global financial crisis.

REUTERS