National Bureau of Statistics reports: Profits of industrial enterprises above designated size fell by 3.5% year-on-year from January to September 2024

Looking at September alone,

The computer industry showed significant recovery, with monthly profits reaching 57.6 billion yuan; a year-on-year increase of 15.5 billion yuan, returning to 2022 levels.

The electrical equipment sector saw narrowed declines in September.

The power industry only made 44 billion yuan, down 5.6 billion year-on-year.

The automotive industry made 32.4 billion yuan, down 10 billion year-on-year.

Coal industry profits were 42.8 billion yuan, down 11.8 billion year-on-year, making China Shenhua's Q3 report even more remarkable.

Oil and gas extraction profits were 26.3 billion yuan, down 7.5 billion year-on-year.

Non-ferrous metals industry profits were 32 billion yuan, up over 2 billion year-on-year.

The steel industry suffered the most severe losses, with monthly losses of 17 billion yuan, wiping out the total losses of the past 8 months.

Next was the alcoholic beverage industry, with September profits of 31.3 billion yuan, down 34.4 billion year-on-year - a halving of profits.

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