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China’s industrial profits contracted in August amid economic weakness

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Profits earned by China’s industrial companies contracted in August after a short rebound in the previous month, pointing to renewed pressure on corporate earnings as domestic demand remains weak amid the prolonged trade war with the United States.

Industrial profits fell 2 per cent in August year-on-year to 517.8 billion yuan ($72.59 billion), according to data released by the National Bureau of Statistics (NBS) on Friday. That's compared with a 2.6 per cent . . .

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