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China Industrial Profits Fall Most Since 2011 as Growth Ebbs

  • Coal mining profits drop 64.9%, oil and gas profits down 67.3%
  • NBS cites falling product prices and lower investment returns
Bloomberg business news

Is More Stimulus on the Way in China?

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Chinese industrial companies reported profits fell the most in at least four years as the pillars of China’s infrastructure-led growth model suffered from a devalued yuan, a tumbling stock market and weak demand.

Industrial profits tumbled 8.8 percent in August from a year earlier, with the biggest drops concentrated in producers of coal, oil and metals, the National Bureau of Statistics said Monday in Beijing. It was the biggest decline since the government began releasing monthly data in October 2011, according to data compiled by Bloomberg.