Photographer: Qilai Shen / Bloomberg
Photographer: Qilai Shen / Bloomberg
Profits of Chinese industrial enterprises grew at a slower pace in November, as production prices continued to decline.
Industrial profits rose 15.5% last month, after gaining 28.2% in October, according to data from the National Statistics Office. During the first 11 months of 2020, there was 2.4% more than the previous year.
The relief in November was due to the higher base compared to October, NBS reported in a statement. He said there is an effective market stimulus and a steady improvement in both supply and demand.
“It is worth noting that trade accounts receivable and inventories of finished goods continue to rise,” government economist Zhu Hong said in the statement. “In the future, we still need to focus on structural supply reform and demand management.”
– With the assistance of James Mayger, Lin Zhu and Chunying Zhang