- Analytics
- News and Tools
- Market News
- China's industrial profits decline sharply in March
China's industrial profits decline sharply in March
RTTNews reports that according to the report from National Bureau of Statistics, China's industrial profit declined sharply in March but at a slightly slower pace than seen in the first two months of 2020 amid firms struggling to resume their operation after coronavirus outbreak.
Industrial profits declined 34.9 percent year-on-year in March following a 38.3 percent slump in January to February period. Profits totaled CNY 370.6 billion in March.
In the first quarter, industrial profits declined 36.7 percent from the same period last year.
Although profit conditions of industrial enterprises namely electronics, manufacturing, agricultural and food processing improved, situation is still not optimistic, Zhang Weihua, an official at the NBS said.
The continued deep fall in industrial profits shows that China has faced a continued fall in demand for goods from foreign economies due to Covid-19's impact on those economies' job markets and wages growth, Iris Pang, an ING economist said.
The economist expects a combination of fiscal and monetary policy to keep SMEs and jobs stable.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
