Industrial Profits Post Fast Growth
China's industrial profits grew at its fastest pace in nearly two years in September, according to official data.
Policy measures to rein in competition helped ease pressure on manufacturers, despite domestic and external challenges. Analysts attribute the rebound in corporate profitability to firmer prices and resilient industrial output, supported by Beijing's pro-growth policies.
A stabilizing economy buoyed by the strong performance of the new quality productive forces.
- Industrial enterprises with an annual revenue of at least 20 million yuan ($2.8 million) saw their total profits soar 21.
- Policymakers likely to intensify countercyclical adjustments to boost domestic demand and spur market confidence.
Analysts expect the recovery momentum to extend into the fourth quarter, with China on track to meet its full-year growth target.
Author's summary: China's industrial profits grow at fastest pace in nearly two years.
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