China's industrial profits fall in August

By Fergus Ryan

China’s industrial profits fell 0. 6 per cent to 482. 56 million yuan (A$ 89. 44 bn) in August from a year earlier, according to official data released on Saturday, the latest in a slew of weak data from the world's second-largest economy.

The decline in profit growth compared sharply with July’s 13. 5 per cent increase and represents the first such drop since August 2012, based on previously reported data.

Industrial companies made profits of 3. 83 trillion yuan (A$718. 24-bn) between January and August — 10 per cent more profit compared to the previous corresponding period.

Average price of new homes in 70 Chinese cities fell at a faster pace in August at the same time as foreign direct investment (FDI) into the country dropped to a four year low.

Read more here: Business Spectator


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