Chinese industrial firms saw their earnings take a hit in October as trade tensions with the U.S. flared that month while broader growth momentum in the economy faltered.

Industrial profits dropped 5.5% from a year earlier in October, the biggest decline since June, the National Bureau of Statistics data showed , reversing the double-digit growth seen in August and September.

For the first ten months of the year, profits at major industrial firms grew 1.9% from a year ago, the official data showed, decelerating from a 3.2% rise in the January to September period.

Trade tensions between China and the U.S. had escalated that month over export controls, with U.S. President Donald Trump threatening additional 100% tariffs on imports from China, before the two economic superpowers rea

See Full Page