Chinese Manufacturing Profits Squeezed by Commodity Prices
Profit growth decelerates sharply after big gains in 2021
Miners, material providers benefit at expense of manufacturers
China’s industrial firms are doing much better this year than in 2020, but the improvement in profits is patchy, with miners and raw material providers benefiting from higher commodity prices at the expense of manufacturers.
In the first 11 months of the year, industrial profits climbed 38% from a year earlier, the National Bureau of Statistics said Monday.