US-China Trade War: Chinese Companies Face a Challenging Environment
BEIJING — An early look at the state of some Chinese businesses for the third quarter indicates many companies are still waiting for the worst to blow over.
The world’s second-largest economy reported third quarter growth of 6% on Friday. The figure missed analysts’ expectations for what many were already predicting would be a rough quarter for China.
Even for China’s giant state-owned enterprises — which are typically less efficient — profits in the first three quarters grew 7.4% from a year ago, according to online government statements. That’s slower than the 8.6% rate in the first half of the year, the data showed. It was not clear how much profits changed in the third quarter alone.
For privately run companies, a clearer picture of their ability to maintain profits, or reduce losses, may emerge by the end of the month.”
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