Industrial profits fell 4.6 per cent year-on-year in October, compared to 0.1 per cent the month before, according to the National Statistics Bureau of China.
It was the second-worst reading this year, In August profits had contracted 8.8 per cent year-on-year, a record low, and only in April and March have modest year-on-year gains been eked out.
Chinese industry is readjusting to a period of slower growth, partly on sluggish demand from overseas. But many factories are also plagued by overcapacity and inefficiency.
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