China's industrial profits grow at a slower pace in November, shows data

For the first 11 months of 2020, there were up 2.4% from a year earlier.
Profits at Chinese industrial enterprises grew at a slower pace in November as producer prices continued to ease. Industrial profits rose 15.5% last month, after gaining 28.2% in October, data from the National Bureau of Statistics showed Sunday.

For the first 11 months of 2020, there were up 2.4% from a year earlier. The easing in November was due to the higher base compared with October, the NBS said in a statement.

It said there is effective market stimulus and stable improvement in both supply and demand. “It is worth noting that business accounts receivable and inventories of finished goods are still increasing,” Zhu Hong, a government economist, said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel