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China industrial profits post strongest growth in three months, rising 14.4%
The gains were driven by AI-related manufacturing and higher commodity prices, while weak consumer demand and a property slump kept the recovery uneven.
- On Tuesday, official data showed profits at large industrial firms in China rose 14.4% last month, marking the strongest pace since June, as AI-linked manufacturing offset drag from weak domestic demand.
- The global AI boom and higher commodity prices stemming from the war in Iran lifted earnings at miners and chipmakers this year, creating divergence where high-tech sectors outperformed consumer-related industries.
- High-Tech electronics manufacturing profits soared 103.8% in the first nine months, while the furniture sector posted a 51.3% decline, contributing to a 15.5% overall rise in industrial profits year to date.
- "China's export strength isn't able to fully offset its domestic weakness," senior economist at Oxford Economics Shena Yue said, citing retail sales that grew only 1.1% in September.
- Beijing has held back from major new stimulus due to concerns over local government debt and fading trade-in subsidies, leaving the economy vulnerable despite the third quarter's 4.5% expansion.
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Data from the China National Statistics Authority show today, Tuesday, that strong growth in the high-tech electronics and manufacturing industry helped to increase the profits of China ' s major industrial companies during the first nine months of the current year.
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Coverage Details
Total News Sources33
Leaning Left5Leaning Right8Center7Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 25%
C 35%
R 40%
Factuality
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