Chinese Economy Has ‘Darker Story’ Ahead, China Beige Book Says

27 Sep 2017   China

Industrial profits jump 24% in August as capacity curbs bite Survey of executives questions government progess on reforms The world’s second-largest economy keeps on delivering positive surprises this year, such as a leap in industrial profits last month. That isn’t stopping worries gathering that 2018 won’t be as bright for China. Industrial profits increased 24 percent in August from a year earlier, the most in four years, compared with the 16.5 percent pace a month earlier, the statistics bureau said Wednesday. A satellite-image gauge of manufacturing facilities showed activity was the strongest in six months, and sentiment in the steel industry is at a 12-month high. International investors are also more bullish on the Chinese outlook. At the same time, as much of the current mood could depend on the short-term profit gains delivered by government-mandated cuts in steel and other industrial capacity, different indicators could be a better […]

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