Industrial Companies' Profits In China Raised Again in August

Industrial Companies' Profits In China Raised Again in August Industrial companies' profits rose in August as well. Thus, companies have made profits for 4 consecutive months. In China, the profits of industrial companies increased in the fourth month, as factories in the country kept their momentum after the pandemic closed. Industrial sector profits increased by 19.1 percent in August compared to the same period last year. The data in question increased by 19.6 percent in July. In the first eight months of the year, industrial profits are still 4.4 percent behind the same period last year. Making a statement regarding the data, China's National Bureau of Statistics stated that the increase in profits was influenced by the recovery in production and demand, as well as the decrease in costs and wages for companies. The bureau also highlighted the recovery in mining sector profitability and the momentum in profits for equipment manufacturers. Profits continue to rise with the recovery in industrial production and slowing producer price deflation. However, the rise could lose its impact if unexpectedly stronger export growth loses momentum or if consumption demand does not rise strongly. Commenting on the issue, government economist Zhu Hond said:

'' Continuing and steady growth in company profits will continue to be pressured by the complex and changing domestic and international environment. ''