China’s industrial profits have plummeted at the sharpest rate since the pandemic

In September 2024, China’s industrial profits fell at the fastest rate since the pandemic of 2020 began, according to China’s National Bureau of Statistics

Following a 17.8% decrease in August 2024, profits in September 2024 plummeted by 27.1% from the previous year, reportedly the most significant drop since the 34.9% decline in March 2020, according to analysis.

In response, Chinese officials have intensified efforts to stimulate growth.