Net profits at large Chinese industrial firms rose 14.4% in October from a year earlier, posting their strongest increase since June. Over the first nine months of the year, profits climbed 15.5%, supported by global demand for artificial intelligence-related equipment and higher commodity prices. The rebound remains uneven, with high-tech sectors benefiting from the AI and robotics boom while weak domestic consumption and rising input costs weigh on downstream manufacturers. China’s economy expanded by 4.5% in the third quarter, but retail sales grew by only 1.1% in September as the property downturn continued to restrain household demand.
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