China: Industrial companies profit rose 1.1% in May - TDS

Analysts at TD Securities note that China’s industrial companies profit rose 1.1% y/y in May compared to a drop of -3.7% y/y previously.

Key Quotes

“Year to date industrial profits are down -2.3%, a marginal improvement compared to the -3.4% decline between Jan to May 19. Much of the weakness was likely centered on export orientated companies.”