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China industrial profits post strongest growth in three months, rising 14.4%
🇺🇸 United States · Economy · 8 h ago
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27.10 01:38 UTC
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China industrial profits post strongest growth in three months, rising 14.4%
The uptick in earnings came as factory-gate prices rose at their fastest pace since mid-2022, driven by higher energy and raw material prices amid the Middle East conflict.
NBS Chief Statistician Yu Weining attributed earnings growth mostly to surging profits in electronics and advanced-technology manufacturing sectors.
Electronic special materials manufacturers saw profits more than triple, while they jumped 51.7% for semiconductor device equipment makers, as demand for AI computing power and storage over the nine months remained robust.
High-tech manufacturing investment and electronics capacity utilization remain resilient, supported by the global AI cycle and domestic policy priorities, said Shena Yue, senior economist at Oxford Economics.
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