November industrial profits data was published in China yesterday and they showed at their slowest in 7 months

They came in at +14.9% y/y for November

  • from +21.9% in October

A few quick takes from around the place:

Reuters:

  • demand and producer price gains eased
  • further confirmation of ebbing growth
  • The lower income underscores a delicate balancing act for authorities as they extend a campaign to reduce China's reliance on credit-intensive investment without imperiling the economy.

Bloomberg:

  • Robust demand and consistent factory inflation have lifted profitability this year. That helps manufacturers pay off their debt and invest more as real corporate borrowing costs decline. Still, as factory-gate prices softens, profit growth may also be due to slow.

Xinhua led with:

  • Profit growth of China's major industrial firms slowed in the first 11 months of this year
  • companies reported a 21.9 percent year-on-year profit increase in the January-November period, down from 23.3 percent in the first ten months