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China’s first-quarter industrial profits return to growth amid tariff woes

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  Profits at China’s industrial firms grew at a faster pace in October, the statistics bureau said on Nov. 27, 2021, providing a buffer for a faltering economy battered by soaring raw material prices. Pictured here is a worker counting cast steel pipes to be shipped aboard at Lianyungang Port in Lianyungang, Jiangsu province of China. Wang Chun | Visual China Group | Getty Images China’s industrial profits returned to growth in the first quarter, official data showed on Sunday, but are likely to come under further pressure amid a trade war with the United States. With Washington’s aggressive tariffs threatening to hit China’s crucial export engine hit and no time frame yet for any bilateral trade talks, economists and investors are waiting for the Chinese government to roll out more support measures to cushion the blow to the world’s second-largest economy. Cumulative profits of China’s industrial firms rose 0.8% to 1.5 trillion yuan ($205.86 billion) in the first quarter from a ye...