Industrial Profits Post Fast Growth
China's industrial profits grew at its fastest pace in nearly two years in September, according to official data.
Analysts attribute the rebound in corporate profitability to firmer prices and resilient industrial output, supported by Beijing's pro-growth policies.
Policy measures to rein in rat-race competition helped ease pressure on manufacturers despite lingering domestic and external headwinds.
- Industrial enterprises with an annual revenue of at least 20 million yuan ($2.8 million) saw their total profits soar 21.
- Policymakers are likely to intensify countercyclical adjustments to boost domestic demand, spur market confidence and reinforce internal growth drivers.
China is expected to meet its full-year growth target, with the recovery momentum extending into the fourth quarter.
Author's summary: China's industrial profits grew rapidly in September.