In two articles from Lianhe Zaobao Singapore, the decline in profits of China’s industry at the end of the year has widened from a year-on-year decrease of 5.5% in October to a 13.1% decrease in November. Meanwhile, the industrial profit growth from January to November was only a very small 0.1%.
Within this weak growth, the speed of profit increase across various industries varies greatly, reflecting the internal imbalance in development among industries in imperialist countries. In artificial intelligence and electronics industries, profit growth reached 57.4% (National Bureau of Statistics of China), and the raw materials processing and manufacturing industry also grew at a rate of 16%. The continuously growing equipment manufacturing industry also had a growth rate of 7.7%, among which industries like railways, ships, aerospace, and others saw a profit increase of 27.8% (National Bureau of Statistics of China).
Corresponding to the development of these industries, profits in coal and oil industries decreased by 47.3%.
The most obvious personal experience I have in my work is that, as the New Year approaches, the workshop I am in is far less busy than before, and the factory has started arranging some workers for days off.
The factory director of my workshop also mentioned in a meeting that the planned output value for 2026 has been reduced by 25% compared to before. Moreover, this situation of “not much work” is expected to continue until the New Year.
This made me think of the two articles I saw earlier.