China reports fall in industrial profit for December
January 28, 2019 | Investopaper
China which has been hit by the trade war with the US has reported a fall in industrial profit in December. The tussle between the two largest economies of the world has been weakening the global economy as well as creating the impact in the global stock market.
According to the National Bureau of Statistics, the profit of big companies fell by 1.9% on year to $100.94 billion. Last month also, the industrial profit was reported to decline by 1.8% in a year period. The reason for the fall in profit was due to the softening of factory-gate prices and weakening demand.
In total, the industrial profit in 2018 rose by 10.3% from last year. Similarly, the debt-assets ratio stood at 56.5%.
Lately, both China and USA are looking for a trade agreement after both of their economies have been hugely affected by the trade turmoil.
