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China’s industrial profits contract for first time since 2015

China’s industrial profits dropped by 1.8 per cent to 594.8 billion yuan in November from a year earlier, the first contraction since December 2015, and compared with a growth of 3.6 per cent one month earlier, said the National Bureau of Statistics on Thursday.

In the first eleven months of 2018, industrial profits increased 11.8 per cent year-on-year, slowing down from a rise of 13.6 per cent in the first ten months.

The fall in profits largely reflected slowing growth in sales and producer prices as well as rising costs, He Ping . . .

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