Coal piles at Rizhao Port in Shandong Province, China, on November 2, 2021.
Visual CG | Visual China Group | Getty Images
China industrial profits Fall for fourth consecutive month, down 7.3% A comparison of November with the same period last year showed that Beijing’s stimulus measures have not been effective in stemming the decline in corporate profits.
profit 10% annual discount after october Plunged 27.1% in September ——This is the largest decline since March 2020, according to Wind news.
Industrial profits are a key indicator of the financial health of China’s factories, utilities and mines. The financial reports show how corporate balance sheets are doing after Beijing took measures to stimulate the economy.
Despite the introduction of a series of stimulus measures Since late SeptemberRecent economic data from China suggests that the world’s second-largest economy continues to grapple with deflation, driven by weak consumer demand and a protracted slump in the housing market.
Chinese consumer inflation falls to five-month low November, at the same time Country’s export and import data Didn’t meet expectations. Chinese The latest retail sales figures also disappointlack of prediction.
However, some areas of the Chinese economy are showing signs of recovery, with manufacturing activity continuing to expand two months in a row and hit a five-month high in November.
Earlier this month, China’s top official pledged Important economic agenda-setting meeting Increase monetary easing, including lowering interest rates, to support the struggling economy.
this The World Bank raised its economic growth forecast for China on Thursday 2024 and 2025, reflecting recent policy adjustments. China’s GDP is currently expected to grow by 4.9% in 2024, higher than the previous forecast of 4.8%; in 2025, China’s GDP is expected to grow by 4.5%, higher than the organization’s previous forecast of 4.1%.
However, the World Bank warned that China’s troubled real estate sector, coupled with low household and business confidence, will still hinder its growth.
