China’s industrial profits shrink


Downtrend: The country’s downbeat data points to more troubles ahead for its vast manufacturing sector already struggling with a decline in orders, job layoffs and factory closures as China’s economic growth slows to its weakest in nearly three decades. — Reuters

BEIJING: Earnings at China’s industrial firms shrank for a second straight month in December, putting pressure on policymakers to support industries hurt by slowing prices and weak factory activity amid a protracted US-Sino trade war.

The downbeat data points to more troubles ahead for the country’s vast manufacturing sector already struggling with a decline in orders, job layoffs and factory closures as China’s economic growth slows to its weakest in nearly three decades.

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Business , China , economy

   

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