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SaltWire's Atlantic regional weather forecast for October 26, 2023 | SaltWireBEIJING - Profits at China's industrial firms extended gains for a second month in September, adding to signs of a stabilising economy as the authorities launched a burst of supportive policy measures.
For the first nine months, profits slid 9% from a year earlier, narrowing from a 11.7% decline in the first eight months, data from the National Bureau of Statistics showed on Friday. A run of recent data has pointed to a steadying in the world's second-largest economy, which expanded at a faster-than-expected clip in the third quarter after a rapid loss of momentum following a brief post-COVID bounce.
Last week, Chinese battery giant CATL reported a sharp slowdown in profit growth in the third quarter, its weakest quarter since the start of last year amid slowing demand and stiff competition.
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