China’s Industrial Profits Post First Yearly Increase Since 2021

China’s industrial enterprises had their first annual gain in profits since 2021, as producer deflation showed signs of easing in the wake of government efforts to curb excess competition and cut capacity.

Profits climbed 5.3% in December from a year earlier, rising for the first time in three months and recovering from a plunge of more than 13% in November. For the full year, they eked out an increase of 0.6%, according to data released on Tuesday by the National Bureau of Statistics.