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Industrial Profits Surprise

CHINA DATA
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  • Industrial profit growth rose in July to 4.1% yoy, ahead of the prior release of 3.6%.
  • From January to July this year, profits increased 3.6% to CNY4.09tn.
  • Whilst export data for July showed they were moderating; overseas orders continue to support industrial profits.
  • With protectionism from the US and elsewhere continuing to hang over the Chinese economy (note tariffs on EV from EU and Canada), this release going forward will provide valuable insight as to the financial performance of companies in China.
  • The challenges for industrial profits domestically remain the same the malaise in the property market continues to be an overhang for the Chinese economy.
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  • Industrial profit growth rose in July to 4.1% yoy, ahead of the prior release of 3.6%.
  • From January to July this year, profits increased 3.6% to CNY4.09tn.
  • Whilst export data for July showed they were moderating; overseas orders continue to support industrial profits.
  • With protectionism from the US and elsewhere continuing to hang over the Chinese economy (note tariffs on EV from EU and Canada), this release going forward will provide valuable insight as to the financial performance of companies in China.
  • The challenges for industrial profits domestically remain the same the malaise in the property market continues to be an overhang for the Chinese economy.