and for the YTD y/y comes in at +34.3%

  • prior 38.0% YTD y/y
  • the YTD figure is of course January to December, thus 2021 profits up solidly on 2020 (not surprisingly)

A solid gain despite the challenges facing China re COVID-19 outbreaks and high input costs.

Commentary via the stats people in China (NBS):

  • profit growth has dropped significantly in November and December
  • downstream industries, especially SMEs, are still under great operating pressure
  • the number of loss-making enterprises is still large
  • the industrial economy still faces many challenges in 2022

more to come