China's Industrial Profits Decline by 10% in October, Showing Signs of Stabilization

Despite a year-on-year drop in October profits, improved performance in high-tech and equipment manufacturing signals partial recovery in China's industrial sector.

• China's industrial profits fell 10% in October compared to the same period last year, a less severe decline than the 27.1% drop recorded in September.
• For the January-October period, industrial profits decreased by 4.3% year-on-year, reflecting continued challenges in the broader economy.
• High-tech and equipment manufacturing sectors showed notable improvement, with profits rising 12.9% and 4.5% year-on-year, respectively, in October.
• Policy measures have helped stabilize some sectors, with industries like steel and textiles posting significant profit increases of 80.1% and 44.3%, respectively, in October.
• Economists expect further fiscal support from Beijing in 2025 to address persistent challenges, including weak demand, deflationary pressures, and a prolonged property downturn.

4 Articles

South China Morning Post SHINE CNBC