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China’s industrial profits rebounded sharply in August. Here’s what powered that growth
China’s industrial profits soared in August as Beijing pressed ahead with efforts to rein in excess supply and curtail cut-throat price wars, with analysts saying that rationalizing production will spill into the country’s next five-year plan. Industrial profits rose 20.4% in August from a year earlier, reversing three months of consecutive declines, according to data released by the National Bureau of Statistics on Saturday. That sharp rebound also marked the biggest jump since November 2023, when profits surged 29.5% year on year as a slew of pro-growth measures helped buttress a post-pandemic recovery and ... (full story)
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