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China's industrial profit growth cools as AI-linked sectors outpace
Export-focused manufacturers led gains as computer and electronics profits jumped 110%, while consumer-facing and property-related industries stayed under pressure.
- China's industrial profit growth slowed to 11.2% from a year earlier on Thursday, marking the weakest pace this year, according to National Bureau of Statistics data.
- Profit growth decelerated from 15.1% in June, while seven-month cumulative profit climbed 17.6%, down from 18.7% in the first half-year, as export-focused sectors benefited from artificial intelligence demand.
- Electronics manufacturing jumped 110% and fibre optics soared 468.4% during January-July, while consumer-facing sectors struggled; Kweichow Moutai, China's largest liquor maker, posted a 2% profit fall.
- Subdued domestic demand and property market weakness continue pressuring profitability, renewing urgency for policymakers to bolster confidence after economic indicators signaled momentum loss at the quarter's start.
- Weakening domestic demand strains the $20 trillion economy, while trade tensions and geopolitical risks cloud the outlook; officials pledged additional fiscal support measures in late August.
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China reports poverty fight gains, income growth
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·Beijing, China
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Coverage Details
Total News Sources5
Leaning Left3Leaning Right0Center2Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 40%
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