China’s Factory Profits Slow as Industries Brace for Power Crisis

Employees produce down coats at a factory for Chinese clothing company Bosideng in Nantong in China's eastern Jiangsu province on Sept. 24, 2019. STR/AFP via Getty Images

BEIJING—Profit growth at China’s industrial firms slowed for a sixth month as plants fought off high commodity prices, COVID-19 outbreaks, and part shortages, with an unfolding power crisis a growing threat to output and bottom-lines.

Profits rose 10.1 percent on year in August to 680.3 billion yuan ($105 billion) compared with a 16.4 percent gain in July, data from China’s statistics bureau showed on Tuesday.