(MENAFN) China's industrial profits severely decreased by 4.6 percent y-o-y in October, increasing the 0.1 percent fall in September, which caused a further delay in the economic revival than anticipated.
Accordingly, the underwhelming figures were chiefly driven down by the energy-and commodity-intensive industries with problems and issues of overcapacity, including oil, steel and coal.
The nation's industrial profits fell 2 percent from last year hitting a total of USD785 billion, plus the economy has not yet seen any rebound after GDP hit a six-year low of 6.9 percent in July-Sep.
"Traditional industrial companies and small businesses will face greater challenges to survive during the economic restructuring process, plus the overall economy is continually slowing down," said a senior economist.
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