China's industrial earnings have declined for the third consecutive year in 2024.

This is reported by Reuters.

According to the National Bureau of Statistics (NBS), industrial profits in December increased by 11% compared to the same month last year, following a 7.3% decline in November.

For the entire year, profits of industrial companies fell by 3.3%, continuing a drop of 4.7% from January to November. This contrasts with a decline of 2.3% in 2023.

Official data indicates that in 2024, the selling prices at industrial enterprises decreased for the second consecutive year, resulting in reduced corporate revenues and worker incomes.

Exports gained momentum in December, partly due to factories rushing to ship out inventories abroad in preparation for increased trade risks under President Trump's administration.

Profits of state-owned companies in 2024 fell by 4.6%, foreign companies by 1.7%, and private firms by 0.5%.

Reminder:

The yuan strengthened alongside assets sensitive to China's economy, amid signs that President Donald Trump is backing away from threats to impose higher tariffs on exports from the country.