China’s industrial profits rise for 3rd consecutive month in October

BEIJING: China’s industrial profits continued to grow for the third consecutive month in October, rising 2.7 percent year-on-year, according to data released by the National Bureau of Statistics (NBS) on Monday.

In the first 10 months of the year, industrial profits fell 7.8 percent year-on-year, narrowing from a nine percent decline in the first nine months.

“The effects of macro policies have continued to show, industrial production has remained stable, and industrial enterprise revenue has accelerated its recovery,” said NBS statistician Yu Weining.

Industrial enterprise revenue grew 0.3 percent year-on-year in the first 10 months, up from a flat reading in the first nine months.

“Profits in the raw materials and consumer goods sectors have continued to improve,” said Yu.

As downstream demand has gradually recovered, product prices in the raw materials sector have generally rebounded, revenue growth has accelerated, and profits have continued to improve, Yu added.

Profits in the raw materials manufacturing industry jumped 22.9 percent year-on-year in October, maintaining a relatively fast pace of growth.

In the first 10 months, profits in the raw materials manufacturing industry declined 10.5 percent year-on-year, narrowing from a 15.3 percent drop in the first nine months.

Going forward, China will focus on expanding domestic demand, stimulating the vitality of businesses, promoting the transformation and upgrading of traditional industries, and cultivating and expanding emerging industries, according to the NBS.

No room for ‘Taiwan independence’ separatist activities: mainland spokesperson

A Chinese mainland spokesperson on Monday stressed that the mainland is willing to create broad space for peaceful reunification across the Taiwan Straits, but will definitely not leave any room for separatist activities aimed at “Taiwan independence.”

Chen Binhua, a spokesman for the State Council Taiwan Affairs Office, made the remarks in response to recent comments from Lai Ching-te and Hsiao Bi-khim, politicians with Taiwan’s Democratic Progressive Party, on cross-Straits relations. According to media reports, they expressed the view that there was no timetable on the mainland side to attack Taiwan region by force.

Chen said the mainland would not tolerate or show leniency to the “Taiwan independence” forces if they dared to take risks and instigate incidents promoting “Taiwan independence.”

He cited the Anti-Secession Law to say that the state shall employ non-peaceful means and other necessary measures to protect China’s sovereignty and territorial integrity.

“I want to emphasize that ‘Taiwan independence’ means war,” the spokesperson added.

Lai and Hsiao, both “Taiwan independence” separatists, have distorted facts and downplayed the harmfulness and danger of “Taiwan independence” separatist activities to deceive voters in the 2024 leadership election in Taiwan, Chen said.

He called on residents in Taiwan region to oppose “Taiwan independence” and promote the return of cross-Straits relations to the path of peaceful development.

Mian Abrar
Mian Abrar
The writer heads Pakistan Today's Islamabad Bureau. He has a special focus on counter-terrorism and inter-state relations in Asia, Asia Pacific and South East Asia regions. He tweets as @mian_abrar and also can be reached at [email protected]

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