China’s industrial profits have been the fastest growing in the past 8 months

According to the report, November profits in Chinese industry increased 5.4% from a year earlier, reaching 593.9 billion yuan, the fastest growth rate in the last 8 months, due to sales and manufacturing activities.

A worker verifies a product at a steel factory in Dalian, Liaoning province, China September 1, 2016. China Daily/via REUTERS

In steel industry, oil processing and chemicals, profits recovered in November due to rising prices and recovering market demand.

Nonetheless, China still faces great price pressure on its economy, including a dispute of demand and low trade with the United States.

The recovery and persistent volatility in Chinese industry is still uncertain. The Chinese government is taking steps to stimulate the domestic economy and plans to set a lower economic growth target of about 6% by 2020.