Jun 27, 2024 02:24 PM

China Industrial Profits Rise Modestly With Commodity Prices

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Large companies’profits grew 0.7% in May as a buildup in manufacturing capacity led to price cuts in sectors such as electric vehicles. Photo: Bloomberg

Large companies’profits grew 0.7% in May as a buildup in manufacturing capacity led to price cuts in sectors such as electric vehicles. Photo: Bloomberg

(Bloomberg) — China’s industrial companies saw their profits climb as higher prices for commodities eased pressure on miners, though questions remain over whether the gains can be sustained due to concern over excess capacity in some sectors.

Industrial profits at large companies rose 0.7% from a year earlier in May, the National Bureau of Statistics (NBS) said on Thursday. That compared with a 4% growth the previous month.

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