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Chinese trade profits shrink due to trade war



Industrial profit in China contracted for a second consecutive month in September as producer prices continued to fall;

According to the National Bureau of Statistics data, industrial profit fell 5.3% yuan in September to 575.6 billion yuan ($ 81.48 billion).

China's huge industrial sector is under pressure between trade tensions and tariffs have been changed in Washington and Beijing. Reuters reported that profit has slowed down considerably since the second half of last year, but Beijing has stepped up support measures and has seen some recovery in the industry.

As the fall in earnings contrasted with a slight improvement in the manufacturing industry in September, factory surveys and better-than-expected increase in industrial production accounted for an increase in domestic demand.

However, the delivery of factory doors, a key indicator of corporate profitability, has fallen at top speed for more than three years;

From January to September, industrial companies' profits fell 2.1 percent year on year to 4.59 trillion yuan.

Profits of state-owned companies fell 9.6 percent in the first nine months.

The oil, coal and other fuel processing industries were the most affected and their profits shrank by 53.5% in nine months.


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