Overview
- Official data show the fastest yearly profit growth since November 2023, following a 20.4% rise in August.
- Profits for major industrial firms rose 3.2% in the first nine months, with high-tech and equipment manufacturers driving gains.
- Private-sector profits increased 5.1% and foreign firms rose 4.9% year to date, while state-owned enterprises edged down 0.3%.
- Beijing’s push to curb price wars was cited as a support for earnings, even as producer prices remained in deflation for a third year.
- Analysts highlighted headwinds from weak domestic demand, a housing slump, and tighter trade conditions, with some projecting slower export growth in the fourth quarter.