Profits earned by Chinese industrial companies declined 8.8 percent in August from a year earlier due to rising costs and persistent falling prices, official data showed on Monday, adding to signs of weakness in the world's second largest economy
Also hurting firms was the stock market slump, which pushed down their investment returns while yuan fluctuation increased companies' financial costs in August, the National Bureau of Statistics (NBS) said.
During August, profits of industrial companies suffered the biggest annual fall since the NBS began monitoring such data in 2011.
For the first eight months of this year, profits were down 1.9 percent from
the year-earlier period, according to the NBS.