Auto,energy & chemical sectors down as Chinese profits dip

Chinese trucksChinese profits. Net profits from China’s largest industrial enterprises fell¬†8.8% year on year last month (August), according to the country’s State Statistical Office. Worst hit were the automotive, oil and chemical sectors.
A combination of factors are widely accepted to have contributed to this poor performance, particularly the devaluation of the yuan and stock market volatility.

Source: Rosbalt