October 27, 2019
BEIJING (Reuters) – Profits at China’s industrial firms declined 5.3% in September from a year earlier, the National Bureau of Statistics said on Sunday.
That compares with a 2% decline in August and a 2.6% gain in July.
For January-September, profits fell 2.1% from a year earlier to 4.59 trillion yuan ($649.71 billion), faster than the 1.7% fall in the first eight months.
Industrial firms’ liabilities increased 5.4% from a year earlier to 66.49 trillion yuan at end-September, compared with a 5.0% increase in August.
The data covers companies with more than 20 million yuan in annual revenue from their main operations.
($1 = 7.0647 Chinese yuan renminbi)
(Reporting by Ben Blanchard; Editing by Lincoln Feast)