Chinese Economics Thread

[Wrought]

Corporate profits were on the rise in H12025, reversing the downward trend from last year.

Chinese corporate earnings have started to pick up, helped by growing exports to Southeast Asia and government efforts to spur consumer spending. Net profits at mainland-listed companies rose 1% on the year in the January-June half, reaching 1.6 trillion yuan ($224 billion) for the first increase for this period in three years. It marked a turnaround from a full-year profit decline of more than 10% in 2024.

Real estate was a notable—if unsurprising—exception.

But many other sectors struggled in the first half -- notably real estate, where 46 of 100 listed companies posted net losses. Leading homebuilder China Vanke's loss topped 10 billion yuan, while peer China Evergrande Group was delisted from the Stock Exchange of Hong Kong in late August.

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