Mainland industrial profits down 2.3 pc
Profits at China's industrial firms fell at a faster clip in the January-September period amid Covid-19 and property woes that weighed on factory activity. According to data from the National Bureau of Statistics, industrial firms with annual main business revenue of at least 20 million yuan saw their combined profits reach 6.24 trillion yuan, down 2.3 percent year on year. Profits fell 2.1 percent in the first eight months of the year. While September activity data showed strong industrial output, some analysts have expressed concerns that a slowdown in the property market, slower exports and weak retail sales are clouding the outlook for a more robust recovery in the longer term. (Additional reporting by Xinhua, Reuters)