China’s industrial profits rose 5% in the first two months of this year, up from 4.2% increase y/y in December, according to data from the National Bureau of Statistics issued on Sunday. However, corporates are facing rising costs of production and declining profit margins, with production facing significant difficulties, Zhu Hong, the bureau’s senior statistician said in an analysis. China’s manufacturing faces more challenges as the prices of raw materials rose, while Covid lockdowns have forced some factories to halt production.
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