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A worker checks a finished vehicle on the production chain of the Zeekr electric vehicle manufacturer in his factory on May 29, 2025 in Ningbo, China.
Kevin Frayer | Getty Images News | Getty images
China’s industrial profits plunged 9.1% in May compared to the previous year, in the last sign that Beijing recovery efforts are not short of business profitability.
This has marked the largest monthly decline since October of last year, when industrial benefits dropped by 10%.
Cumulative profits in large industrial companies dropped 1.1% in the first five months of 2025, compared to one year earlier, The data has shown.
Citibank earlier this week improved China’s growth forecasts for 2025 to 5%, against 4.7%, in accordance with the official Beijing target, stimulated by robust growth in the first half and expectations for resilient exports.
China exports this year have resisted despite the pricing policy of the United States, thanks to an increase in shipments in Southeast Asia and in the European Union countries. In May, the country’s exports increased by 4.8% compared to the previous year, even though the shipment linked to the United States plunged 34.5% compared to a year ago.
Citi expects the country’s overall exports to increase 2.3%, while taking into account 10% estimated at 10% of shipments to the United States
President Donald Trump said on Wednesday that an agreement with China had been signed, without providing additional details. An official of the White House then specified that “the administration and China agreed with an additional understanding of a framework to implement the Geneva Agreement”.
The Geneva Agreement had failed China’s edges on critical mineral exports and American tightening restrictions on technological visas and Chinese students.
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