Mainland firms listed onshore delivered solid results for the first half of the year, despite global uncertainties and domestic realities
These are solid if not spectacular results, with most economic sectors showing noticeable improvement besides real estate. But even in the badly hit property market, declines are narrowing.
Since China emerged from the Covid-19 pandemic, more firms have shown discipline in optimising efficiency and redoubling efforts to upgrade their technology and innovate. But this remains a work in progress as both state authorities and the private sector battle neijuan or “involution”, that is, self-defeating cutthroat competition among firms leading to mutual destruction of profits, if not collapse.
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