China industrial profits recover strong in September

7.8% yoy growth a positive sign.

BBVA said industrial profits of major enterprises in China rebounded by 7.8% y/y in September, according to an NBS statement released over the weekend.

"The outturn is the first year-on-year gain in the past six months, and has been welcomed by analysts as another sign of growth stabilization after the economy slowed to 7.4% y/y in Q3. Looking ahead, we will be watching for the official October PMI to be released on November 1," BBVA said.

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