Singapore’s primary Chinese language newspaper Lianhe Zaobao recently reported that, based on the data that the Chinese National Bureau of Statistics just released, China’s large-scale (officially classified as “Above Designated Size”) industrial companies’ total profits declined by 9.9 percent, year-over-year. The scale of the decline expanded by 4.6 percent from September’s total. The same number for the period of January to October declined by 2.9 percent, year-over-year. For the first ten month of the year, the profit of the private sector companies and the small-sized companies maintained a stable growth. However, experts expressed the belief that international demand may pick up in the near future.
Source: Lianhe Zaobao, November 27, 2019