The decrease in profitability in 2024 is expected to be the largest since 2000.
The profitability of large industrial companies in November decreased by 7.3% compared to the same period last year.
In the January-November period, the total profitability of industrial companies declined by 4.7% year-on-year. The financial performance of companies continues to be under pressure due to weak domestic demand and the longest deflation period since 1999.
With a temporary recovery, the Chinese economy is expected to complete the year by achieving the 5% growth target. However, if Donald Trump takes the US presidency in 2025, the Chinese economy may face new challenges.
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