China's industrial profits drop 1.9% y/y in December

China’s National Bureau of Statistics (NBS) published the Chinese industrial profits data for the month of December on Monday, with the overall profits declining for the second straight month.

The profits earned by the Chinese firms dropped 1.9% y/y to CNY 680.8 billion ($100.9 billion) in December vs. a decline of 1.8% seen in November.  

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For the full-year of 2018, industrial profits increased 10.3 percent on an annual basis to CNY 6.64 trillion, versus the 11.8% gain in the January-November period.

Chinese industrial firms’ liabilities rose 5.2% from a year earlier to CNY 64.1 trillion by end-2018, compared with a 5.8 percent rise as of end-November.