China Industrial Profits Set for Steepest Annual Drop Since 2000
- Industrial profits fell in November for a fourth month
- Corporate finances pressured as domestic demand remains weak
China is expected to hit its growth target of around 5% this year, new challenges are arising as Donald Trump prepares to take office next month.
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China’s industrial firms saw their profits drop in November for a fourth straight month, on track for the sharpest annual decline since records began in 2000.
Industrial profits at large Chinese companies fell 7.3% last month compared to a year ago, the National Bureau of Statistics said in a statement on Friday. That compares with a Bloomberg Economics forecast for a decline of about 6%.