BEIJING (Reuters) – Profit growth at China’s industrial firms slowed for a sixth month as plants fought off high commodity prices, COVID-19 outbreaks and part shortages, with an unfolding power crisis a growing threat to output and bottom-lines. Profits rose 10.1% on year in August to 680.3 billion yuan ($105 billion) compared with a 16.4% gain in July, data from China’s statistics bureau showed on Tuesday. China power companies’ profits squeezed https://graphics.reuters.com/CHINA-ECONOMY/gkplgwkqkvb/chart.pngFor the January-August period, industrial firms’ profits rose 49.5% year-on-year to 5.61 trillion yuan, slowing from a 57.3% increase in the first seven months of 2021. Liabilities at industrial firms rose 8.4% on an annual basis at end-August, up from 8.2% growth as of end-July. The industrial profit data covers large firms with annual revenues of over 20 million yuan from their main operations.

Source: MetroXpress September 28, 2021 02:13 UTC