Chinese industrial profits surged after months of declines, signaling that national campaigns to tackle overcapacity and excessive competition are bearing fruit.
Industrial profits in August climbed 20.4% from a year earlier, the first increase in four months, according to data released Saturday by the National Bureau of Statistics. For the first eight months of the year, they climbed 0.9%, beating a Bloomberg Economics forecastBloomberg Terminal for a 1.6% drop.