Chinese industrial profits are once again under pressure

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Having risen fractionally in the year to May, Chinese industrial profits are once again under pressure.

According to the National Bureau of Statistics, industrial profits fell by 0.3% in the year to June, down fractionally on the 0.6% growth seen in May.

Over the first half of the year, profit levels were 0.7% lower than the same period a year earlier.

Whether on the back of the data or for another reason, Chinese stocks have fallen upon the resumption of trade. The benchmark Shanghai Composite index is currently off 1.45%.

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