China’s industrial profits dropped in October after a strong September, according to official year-on-year data released on Thursday, and analysts are pointing to domestic competition and trade tensions weighing on corporate balance sheets.
Profits fell 5.5 per cent from a year ago, reversing a 21.6 per cent surge in September and a 20.4 per cent jump in August, according to figures from the National Bureau of Statistics.
For the January-October period, profits earned by Chinese companies of a…
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