AIRLINK 175.55 Decreased By ▼ -2.01 (-1.13%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.29 Increased By ▲ 0.12 (1.47%)
FCCL 47.23 Decreased By ▼ -0.09 (-0.19%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.31 Decreased By ▼ -0.04 (-0.15%)
HUBC 142.32 Decreased By ▼ -4.59 (-3.12%)
HUMNL 13.30 Decreased By ▼ -0.21 (-1.55%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 5.90 Decreased By ▼ -0.01 (-0.17%)
MLCF 61.80 Decreased By ▼ -0.22 (-0.35%)
OGDC 226.77 Decreased By ▼ -7.91 (-3.37%)
PACE 5.77 Decreased By ▼ -0.03 (-0.52%)
PAEL 44.80 Decreased By ▼ -1.61 (-3.47%)
PIAHCLA 17.88 Decreased By ▼ -0.24 (-1.32%)
PIBTL 10.47 Decreased By ▼ -0.10 (-0.95%)
POWER 12.02 Increased By ▲ 0.03 (0.25%)
PPL 185.92 Decreased By ▼ -5.88 (-3.07%)
PRL 37.16 Decreased By ▼ -0.16 (-0.43%)
PTC 24.05 Increased By ▲ 0.85 (3.66%)
SEARL 100.29 Decreased By ▼ -0.60 (-0.59%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 38.51 Decreased By ▼ -1.20 (-3.02%)
SYM 14.75 Decreased By ▼ -0.28 (-1.86%)
TELE 7.73 Decreased By ▼ -0.11 (-1.4%)
TPLP 11.03 Decreased By ▼ -0.08 (-0.72%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 10.97 Decreased By ▼ -0.38 (-3.35%)
WTL 1.35 Decreased By ▼ -0.01 (-0.74%)
YOUW 3.78 Increased By ▲ 0.01 (0.27%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

BEIJING: Profits at China's industrial firms fell for a third straight year in 2024, official data showed on Monday, underlining the urgency for policymakers to step up support for an economy facing tariff threats from the new Trump administration.

Industrial profits grew 11% in December from the same month last year, following a 7.3% drop in November, according to National Bureau of Statistics (NBS) data.

For the whole year, earnings at industrial firms dropped 3.3%, extending a 4.7% decline in the January-November period, NBS data showed.

China’s Nov industrial profits narrow decline but demand remains soft

That compares with a 2.3% decline in 2023. China's GDP grew 5% last year, reaching the official target, following extensive government stimulus measures.

But the economy has been beset by a stuttering property market, flagging domestic demand and fragile business confidence.

Factory-gate prices in 2024 extended into a second straight year of declines, official data showed, ripping into corporate profits and workers' incomes.

Policymakers in the second half of the year rolled out multiple rounds of economic stimulus measures, including expanding a consumer goods trade-in scheme to spur demand.

December economic data, released earlier this month, indicated imbalanced growth, with industrial output outperforming retail sales, and unemployment rate ticking higher.

Exports gained momentum in December, in part fuelled by factories rushing inventory overseas as they braced for heightened trade risks under a Trump presidency.

U.S President Donald Trump, who took office on Jan. 20, said the next day his administration was discussing a 10% punitive duty on Chinese imports.

Profits at state-owned firms dropped 4.6% in 2024, those at foreign firms fell 1.7% and private-sector companies recorded a 0.5% rise in earnings, according to a breakdown of the NBS data.

Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.74 million) from their main operations.

Comments

Comments are closed.