China's Industrial Profits Grow for Second Month But Still Down Year-on-Year

China's industrial profits rose 11.9% year-on-year in September, extending gains for a second month and signaling a stabilizing economy.

For January-September, industrial profits fell 9% versus the same period last year, but the decline narrowed from 11.7% through August.

Rebound reflects improvement in industrial operations and market demand, aided by supportive government policies.

State-owned firms saw profits fall 11.5% in the first 9 months, while foreign and private firms saw declines of 10.5% and 3.2%.

Battery maker CATL recently reported sharp profit growth slowdown in Q3 amid slowing demand and competition.