China's industrial profits fall by 10% in October as deflation worries linger

China’s industrial profits fell by 10% in October compared to a year ago, marking the third consecutive month of decline. This drop follows a 27.1% decrease in September, the sharpest decline since March 2020. Industrial profits are a crucial indicator of the financial well-being of factories, mines, and utilities in China, with profits down by 4.3% in the first ten months of the year compared to the same period last year, according to the National Bureau of Statistics.

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