Industrial profits in China saw strong growth in the first two months of 2018, according to data released yesterday by the National Bureau of Statistics (NBS), although decelerated from 2017 reinforcing hints of a slowing down of the nation’s economy.
Profits grew 16.1% compared with the same period last year to RMB 968.9 billion ($154.57 billion), a sizeable jump from December’s 10.8% growth rate but slower than the 21.0% rate for 2017 as a whole, which grew at a 6-year high pace.
The boost since December has been put down to quickened sales with continued cost-cutting efforts, offsetting weaker prices, a representative of the NBS said in a statement. The slowdown compared with 2017, on the other hand, is likely to have stemmed from government restrictions on debt risks and capital flow, Reuters reported.