China reports 4th consecutive month of industrial profit growth in Nov

The total profits of these firms for the first 11 months amounted to 6.98 trillion yuan, representing a 4.4 per cent drop year on year, albeit with a reduced rate of decline from the first ten months by 3.4 percentage points.

Notably, the equipment manufacturing sector recorded a 16.2 per cent profit increase, underlining its pivotal role as a growth engine in modernising industrial chains, said Chinese media reports quoting NBS statistician Yu Weining.

Yu further noted the shrinking profit decline in the raw material production sector, which has positively impacted the overall industrial profit surge.

ALCHEMPro News Desk (KD)