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Lianhe Zaobao: Chinese Industrial Companies Saw Sharp Profit Decline in October

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