A brighter note to finish 2012 on, in Chinese economic data at least. Industrial profits are up – just – after recovering from a dip earlier in the year.
According to the National Bureau of Statistics, profits from enterprises above the threshold of $3m annual revenues were up 3 per cent in the first 11 months of 2012 from a year earlier, at a total of Rmb4.6tn. For the January-October period, profits had been up only 0.5 per cent. Continue reading »
Hardly a week goes by without a depressing bit of economic data from China. Monday’s version is industrial profits, which are down 5.4 per cent in July from 2011, according to national statistics.
Profits were Rmb366.8bn – the fourth straight month of decline. For January to July, the overall drop is 2.7 per cent year-on-year. The Shanghai Composite index closed on Monday at 2055.7, down 1.7 per cent – its lowest close since March 2009. Continue reading »