PROFITS at China's industrial companies registered their steepest decline this year in September, as policymakers battle to restore confidence across the world's second-biggest economy, reports London's Financial Times.
Profits at large industrial companies fell 27.1 per cent in September year on year, after a 17.8 per cent fall in August. The gauge, which is published by the National Bureau of Statistics, tracks companies with more than CNY20 million (US$2.8 million) in turnover.
The figures come amid mounting pressure on Beijing to support the economy after a string of disappointing data that highlight the effects of a multiyear property sector slowdown and weaker consumer demand.
Policymakers in late September unveiled a barrage of measures designed to boost confidence and support the stock and housing markets, though analysts have called for further fiscal stimulus to restore momentum.
SeaNews Turkey
Profits at large industrial companies fell 27.1 per cent in September year on year, after a 17.8 per cent fall in August. The gauge, which is published by the National Bureau of Statistics, tracks companies with more than CNY20 million (US$2.8 million) in turnover.
The figures come amid mounting pressure on Beijing to support the economy after a string of disappointing data that highlight the effects of a multiyear property sector slowdown and weaker consumer demand.
Policymakers in late September unveiled a barrage of measures designed to boost confidence and support the stock and housing markets, though analysts have called for further fiscal stimulus to restore momentum.
SeaNews Turkey
