India, Jan. 27 -- China's industrial profits declined at a faster pace in 2024 despite a surge in profits in December, data from the National Bureau of Statistics showed on Monday.
Industrial profits decreased 3.3 percent in 2024 compared to a drop of 2.3 percent in 2023.
However, in December, industrial profits logged a double-digit growth of 11 percent. This follows a decline of 7.3 percent in November. In 2024, China's economy achieved its official growth target of around 5 percent as series of stimulus measures late last year revived industrial production and spending.
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