Data from China's National Bureau of Statistics (NBS) released over the weekend.

Profits at China’s industrial firms in April -18.2% y/y

  • prior -19.2%

For the YTD. ie. January - April, down 20.6% y/y

  • prior (January - March) -21.4%

Margin pressures, soft demand & a faltering economic recovery cited.

Chinese tabloid media outlet Global Times highlighted more encouraging aspects:

  • the overall economic rebound and its internal momentum shouldn't be questioned or ignored, experts told the Global Times
  • Combined revenues rose 3.7 percent, accelerating by 3.1 percentage points from the previous month
  • Of the 41 industrial categories, 23 posted better profits in April compared with March
China factory