Profits of China’s major industrial companies fell 3.5 percent year-on-year between January and September this year, according to official data released by the National Statistics Office (NEO) on Sunday.
THE winnings of the analyzed companies accounted for 5.22 billion yuan (approximately 678,568 million euros/$732.621 million) throughout the first nine months of 2024.
The institution highlighted that in September, the profits of these companies fell 27.1% from year to year due to the decline 17.8% compared to the previous month.
In 2023, the profits of large Chinese industrial companies fell 2.3% year after year.
To develop this statistic, the ONE only takes into account industrial companies with a annual turnover above 20 million yuan ($2.8 million).
