China industrial profit growth accelerates in Sept despite cost pressures
Profits at China’s industrial firms rose at a faster pace in September even as surging raw material prices and supply bottlenecks squeezed margins and weighed on factory activity. Profits jumped 16.3% on-year to 738.74 billion yuan ($115.72 billion) the statistics bureau said on Wednesday, quickening from the 10.1% gain reported in August.
The industrial sector has been hit by the surging price of coal, supply shortages and power rationing. Source: Reuters