The profits of industrial companies in China continued to grow for the fourth month in a row during the month of August.
According to Reuters, profits of industrial companies increased 19.1 percent in August to 612.81 billion yuan ($ 89.9 billion), according to the Bureau of Statistics.
In comparison, growth was 19.6 percent in July, and August was the fourth month in which earnings grew.
But the profits of industrial companies are still under external pressure as the escalation of tensions between Washington and Beijing cast a shadow on the prospects for global trade.
Profits for raw materials manufacturers rose 32.5 percent in August, from 14.7 percent in July, according to Zhou Hong, an official with the statistics office. This is partly due to a recovery in global commodity prices such as oil and iron ore.
profits for the general equipment manufacturing sector rose 37 percent year on year in August, and profits for companies producing electrical equipment grew 13.3 percent in the same period.
all economic indicators in August, from exports to producer prices and industrial production, showed an improvement in the industrial sector, but factory activity grew at a slower pace as small businesses faced a weakness in Demand and financial difficulties.
and in the period from January to August, profits of industrial companies fell 4.4 percent from a year ago to 3.72 trillion yuan, the best decline of 8.1 percent in The first seven months.
industrial corporate debt increased 6.6 percent year on year at the end of August, from 6.5 percent at the end of July.
and profits of state-owned industrial companies fell 17 percent year on year in the first eight months of the year, compared to a decline of 23.5 percent in the first seven months.
private sector profits fell 3.3 percent between January and August, compared to a decline of 5.3 percent from January to July.
(Amazon fun knowledge)
