Reported industrial profits rose 21.6 per cent year on year in September, pushing 2025 growth to 3.2 per cent.

Chinese industrial firms saw their highest earnings surge in nearly two years last month, as production revved up while declines in factory-gate prices eased amid a government campaign to rein in excess capacity. Industrial profits climbed for the second straight month in September, rising 21.6 per cent from a year earlier, their biggest gain since November 2023. That followed a 20.4 per cent jump in August. For the first nine months of the year, profits were up 3.2 per cent, according to data…

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