China Industrial Profits Decline In 2024

(RTTNews) - China's industrial profits declined at a faster pace in 2024 despite a surge in profits in December, data from the National Bureau of Statistics showed on Monday.

Industrial profits decreased 3.3 percent in 2024 compared to a drop of 2.3 percent in 2023.

However, in December, industrial profits logged a double-digit growth of 11 percent. This follows a decline of 7.3 percent in November. In 2024, China's economy achieved its official growth target of around 5 percent as series of stimulus measures late last year revived industrial production and spending.