China's industrial profits rise 21.1% in May amid weak demand
Business
China's industrial profits went up 21.1% in May, but that is a bit slower than April's pace.
Even though factories and exports are still strong, weak demand at home and ongoing issues like the property slump are making things tough for the economy.
January-May industrial profits rise 18.8%
From January to May, overall profits climbed 18.8% compared with last year.
tech manufacturers (especially those making computers and electronics) saw profits skyrocket by over 100%, thanks to the global AI boom.
On the flip side, car makers actually lost ground, with profits dropping nearly 20% despite solid export numbers.
Analysts expect the government might step in soon to help struggling sectors find their footing.