China's industrial profits grow at a slower pace in November, shows data

Profits at Chinese industrial enterprises grew at a slower pace in November as producer prices continued to ease. Industrial profits rose 15.5% last month, after gaining 28.2% in October, data from the National Bureau of Statistics showed Sunday.

For the first 11 months of 2020, there were up 2.4% from a year earlier. The easing in November was due to the higher base compared with October, the NBS said in a statement.

It said there is effective market stimulus and stable improvement in both supply and demand. “It is worth noting that business accounts receivable and inventories of finished goods are still