China

Official Data Reveals an Economic Crisis: Profitable Sectors Do Not Need Workers, While Those That Do Are Losing Money

According to data released by the National Bureau of Statistics of the Communist Party of China on July 27, the growth rate of industrial profits for enterprises above designated size slowed from 21.1% in May to 15.1% in June. Profits in the first half of the year increased by 18.7% year-on-year, co