28 September
Industrial companies in China registered profits for the fourth straight month in August although the growth is lower than that of 2020.
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Despite the growth, the recovery of China from the impact of the Covid-19 pandemic remains uneven, with industrial production growing by 5.6% in August compared to the previously year.
John Ashcroft, an economist, shared an article on how some of the largest industrial firms in China have registered a positive growth.
Profits, however, were down by 4.4% compared to the same period during the previous year.
The recovery in China was mostly noted in the manufacturing, electrical machinery and raw material sectors.
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By GlobalDataIn August, the profits increased by 19.1% compared to the previous year although the growth was still lower than 19.6% in July.
