China's Industrial Profits Suffer Sharpest Drop Since Pandemic

Beijing faces mounting pressure to implement fiscal stimulus as industrial profits fall by 27.1% in September.

China's industrial profits declined by 27.1% in September, marking the steepest drop since March 2020.
The National Bureau of Statistics reported a 3.5% decrease in industrial profits for the first nine months of 2024.
Deflationary pressures and weak domestic demand are significant factors contributing to the decline in profits.
Beijing has introduced monetary support measures and is expected to announce further fiscal stimulus next month.
Economists highlight the need for demand-side policies, particularly in sectors like upstream materials and automobiles.