Manufacturing News

China's industrial profit decline widens in August

Chinese industrial firms' profits further declined in August, indicating increased downward pressure on the economy.

Profits of China's major industrial firms fell 8.8 percent year on year in August, sharply down from a 2.9-percent decline posted in July, the National Bureau of Statistics (NBS) said on Monday.

The poor performance was mainly caused by drop in industrial goods prices due to weak domestic demand, a rise in unit costs, the stock market rout, and volatility in the yuan exchange rate, said He Ping, an official with the Department of Industry at NBS.

During the first eight months, industrial profits of the firms dropped 1.9 percent year on year to around 3.77 trillion yuan. The decline widened from the one-percent decrease registered in the Jan-July period.

Facing lingering downward risks, Chinese authorities have ramped up efforts to prop up the economy. The central bank has cut the reserve requirement ratio (RRR) of banks four times in nearly seven months and cut interest rates five times in nearly nine months.

Despite overall weakness, the manufactured goods inventory in August has been rising much more slowly than the previous month, which helped enterprises release inventory pressure and operation difficulties, He said.

Most Viewed in 24 Hours


Start a Digital Twin Journey from Engineering Simulation

Accenture releases survey of digital transformation

CIMC Reduces Unplanned Downtime by 30% with Greater Operational Insight from ThingWorx

Ansys Simulation Speeding up Autonomous Vehicles

  • Tel : 0086-27-87592219
  • Email :
  • Add: 3B1 International Business Center, No. 18 Jinronggang Road (No.4), East Lake High-tech Development Zone, Wuhan, Hubei, PRC. 430223
  • ICP Business License: 鄂B2-20030029-9
  • Copyright © e-works All Rights Reserved