Photographer: Qilai Shen / Bloomberg
Photographer: Qilai Shen / Bloomberg
Profits at Chinese industrial enterprises grew at a slower pace in November as producer prices continued to fall.
Industrial profits rose 15.5% last month, after gaining 28.2% in October, data from the National Bureau of Statistics showed on Sunday. In the first 11 months of 2020, there was an increase of 2.4% compared to the previous year.
The November cut was due to the larger base compared to October, the NBS said in a statement. He said there is an efficient market stimulus and a steady improvement in both demand and supply.
“It is noteworthy that business receivables and inventories of finished goods are on the rise,” government economist Zhu Hong said in a statement. “Next, we need to focus on structural supply reform and demand management.”
– With the assistance of James Mayger, Lin Zhu and Chunying Zhang