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[size=36]Shrinking industrial profits in China[/size]
11:16 - 28/01/2019
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shrank industrial companies ' profits in China for the second consecutive month in December, putting pressure on policy makers to support sectors affected by the slowdown in prices and weak factory activities amid US - China trade war.
The data point to further trouble in the future for the huge industrial sector already suffering from falling orders, layoffs and factory closures as economic growth slows to a three-decade low.
China's economy grew 6.6 percent in 2018 and is expected to slow this year as Beijing's efforts to reduce debt risk reduce the real estate market and shrink credit flows to the private sector while the campaign also affects pollution on industrial activity.
According to the National Bureau of Statistics, industrial profits fell 1.9 percent in December from a year earlier to 680.8 billion yuan ($ 100.9 billion) due to weak factory prices and demand.
Industrial profits fell in November for the first time in nearly three years, 1.8 percent.
For the full year, profits rose 10.3 percent to 6.64 trillion yuan in 2018, compared with a strong growth of 2017 at 21 percent.
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