Industrial profits at large Chinese companies fell in May compared to a year earlier, reversing the modest gain recorded in previous months, as weak domestic demand and the tariff war with the United States weighed on manufacturers.
Data released on June 27 by China’s National Bureau of Statistics show that profits declined by 9.1 percent year over year in May. The drop erased the 1.4 percent gain seen in the first four months of 2025, and pulled overall profits for the January–May period down to a 1.1 percent decline.
