China’s industrial profits grew 0.5% from January to August this year, driven mainly by the high-technology sector, according to data released by the National Bureau of Statistics (NBS) this Friday (27).
The growth comes despite challenges such as extreme weather events and a high comparison base from the previous year.
High-tech manufacturing, which encompasses the production of lithium-ion batteries, semiconductors and other advanced equipment, stood out with a significant increase of 10.9% in the period, contributing decisively to industrial performance. According to statistician Yu Weining, from NBS, this segment continues to be an important driver for the industry’s growth, even amid adversity.
However, the growth rate of industrial profits has been affected by factors such as insufficient market demand and natural disasters, including heat waves and floods in some regions. Furthermore, the high comparison base in August also contributed to the slowdown, as pointed out by Yu.
For Tian Yun, an economist based in Beijing, China will need to stimulate domestic demand more aggressively, especially given the introduction of new fiscal policies in the fourth quarter, which seek to further strengthen the economy.
Source: https://www.ocafezinho.com/2024/09/27/industria-de-alta-tecnologia-puxa-pra-cima-o-crescimento-da-china-em-jan-ago/
