China’s industrial production rose 4.2 percent year-on-year in August, faster than July (3.8 percent).
(Photo: dpa)
Beijing China’s manufacturing profits fell sharply between January and August. Earnings fell 2.1 percent year-on-year in eight months, according to data from the National Bureau of Statistics (NBS) released on Tuesday.
However, the Chinese economy proved more resilient than expected in August, with faster growth in factory production and retail sales. China’s industrial production rose 4.2 percent year-on-year in August, faster than July (3.8 percent).
Nevertheless, the real estate crisis and the measures against the corona virus are weighing on the prospects. Analysts think China is unlikely to ease its “zero coronavirus” policy ahead of the October Communist Party Congress.
More: Get out of dependence on China
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