China’s Industrial Profits Fall Further

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Chinese Robot Startup Unitree Gears Up for Market Debut

LATEST: Chinese Robot Startup Unitree Gears Up for Market Debut; China Enforces AI Content Labeling Rules to Curb Misuse; Tech Brief (Sept. 2): China Rolls Out Mandatory AI Labeling; Meituan Enters Open-Source AI Race With LongCat Model; Tech Brief (Aug. 29): SenseTime Reports Strong AI Growth; All Hail the Driverless Taxis as China Eyes a $183 Billion Market; Tech Brief (Aug. 27): Cambricon Reports $128 Million Profit, Stock More Than Doubles Since July; Tech Brief (Aug. 26): Musk’s xAI Sues Apple and OpenAI Over Alleged AI Market Monopoly; Exclusive: NetEase’s Youdao CEO Explains How AI Agents Could Build a Future of Virtual Teachers; Ant Group Teams up With Top Beijing Hospital to Launch AI Healthcare Lab; Didi and Meituan Clash in Brazil as Food Delivery Battle Goes to Court; Google Denies Rumors It Is Resuming Full Services on Chinese Mainland; China Proves a Winner in the Gaming Market as Growth Hits a Five-Year High; China’s Booster Robotics Lands New Funding as it Hits a Winning Streak; Amazon to Shut Down Shanghai AI Lab Amid Strategic Shift; Cover Story: A New Gold Rush Begins in China’s Hard Tech Sector; Humanoid Robotics Startup Robot Era Secures $69 Million Series A Funding; China’s Zhipu AI Secures $140 Million Investment From Shanghai State Funds Amid IPO Push; In Depth: AI Agents Trigger the Next Tech Battlefield in China; Cover Story: Alibaba Fights Tencent for Dominance Over AI in China

By Lin Jinbing / Jan 28, 2019 09:49 AM / Economy

China’s industrial profits fell further last month, official data showed Monday.

The total profit of the industrial sector fell 1.9% year-on-year in December, according to data from the National Bureau of Statistics. The decline is 0.1 percentage points steeper than the one the previous month, which marked the first drop since December 2015.

The data have added to evidence that businesses in the world’s second largest economy are facing headwinds amid slowing growth and a Sino-U.S. trade war. China’s economic growth slowed to 6.6% last year, the slowest annual expansion since 1990.

Support independent journalism from China. Subscribe to Caixin Global starting at $0.99.

Share this article

Open WeChat and scan the QR code