Decline in Profitability of Chinese Manufacturing... Industrial Profits Down 3.6% from January to November

[Asia Economy Beijing=Special Correspondent Kim Hyunjung] Due to the spread of COVID-19, the profitability of China's manufacturing industry has deteriorated for five consecutive months.

According to the National Bureau of Statistics of China on the 27th, industrial profits in China from January to November decreased by 3.6% compared to the previous year. This marks a deterioration for the fifth consecutive month following -1.1% from January to July, -2.1% from January to August, -2.3% from January to September, and -3.0% from January to October.

Industrial profits are an indicator showing the profitability trends of companies in the industrial sector. The survey targets companies with annual sales exceeding 20 million yuan. The National Bureau of Statistics of China releases industrial profit trends monthly, but only publishes cumulative figures up to the given month and does not disclose monthly figures.

In November, when the number of COVID-19 confirmed cases surged, China increased quarantine measures but has begun the process of abandoning the 'Zero COVID' policy this month. Recently, quarantine standards were significantly relaxed to allow confirmed cases to self-isolate, and starting from the 8th of next month, mandatory facility quarantine for overseas arrivals will also be abolished. However, the rapid increase in confirmed cases nationwide is currently impacting industrial activities.

This content was produced with the assistance of AI translation services.