China’s industrial profits soared 21.6% in September from a year ago, the National Bureau of Statistics said Monday, as Beijing’s campaign to curb price wars helped ease pressure on manufacturers despite persistent trade tensions with the U.S.
That sharp jump, extending a strong rebound that began in August when the industrial profits jumped 20.4% year-on-year, marked the biggest gain since November 2023.
For the first nine months of the year, profits at major industrial firms grew 3.2%, the official data showed.
The rebound in corporate profitability was largely helped by Beijing’s policies aimed at curtailing fierce price competition across industrial sectors, at a time when deflation in producer prices stretched into its third year.
China’s consumer prices fell more than expected in September, slipping 0.3% from a year earlier, while the producer price index slumped 2.3%.
