China’s industrial profits declined in August as product prices continued to decrease, the National Bureau of Statistics reported Monday.
Industrial profits fell 8.8 percent in August from a year ago, following a 2.9 percent drop in July.
Falling product prices as well as lower return on investment weighed on industrial profits.
During January to August, industrial profits decreased 1.9 percent from the corresponding period of last year.
Profits of coal mining plunged 64.9 percent from last year and oil and gas extraction industry profits decreased sharply by 67.3 percent. The decline in automotive industry came in at 4.5 percent.
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