China’s industrial profits collapse 18 percent in April

In April alone, industrial firms saw profits fall 18.2 percent year-on-year, according to the NBS, which only occasionally releases monthly figures. In March, profits shrank by 19.2 percent. “Overall, today’s data shows that industrial companies, particularly private and equity-owned companies, continue to be impacted by a combination of unfavorable factors such as the base effect, near-term pressure on the economic recovery and the downward trend in PPI (producer prices),” said Bruce Pang , Chief Economist at Jones Lang Lasalle.