Photographer: Qilai Shen / Bloomberg
Photographer: Qilai Shen / Bloomberg
Profits at Chinese industrial companies grew more slowly in November as producer prices continued to decline.
Industrial earnings rose 15.5% last month, after rising 28.2% in October, data from the National Bureau of Statistics showed Sunday. For the first 11 months of 2020, there were 2.4% more than a year earlier.
The easing in November was due to the higher base compared to October, the NBS said in a statement. It said there is effective market stimulation and stable improvement in both supply and demand.
“It is worth noting that trade receivables and stocks of finished goods are still increasing,” Zhu Hong, a government economist, said in the statement. “Going forward, we still need to focus on supply side structural reforms and demand side management.”
– With help from James Mayger, Lin Zhu and Chunying Zhang