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China's industrial profits rose 2.7% year-on-year in October, marking a sharp slowdown from 11.9% in September and 17.2% in August, prompting calls for support from the government. 

The latest data from the National Bureau of Statistics (NBS) showed in the first 10 months of 2023, profits among industrial firms contracted by 7.8% compared to the same period last year. 

The Chinese manufacturing sector has been suffering from stuttered recovery progress due to weak demand at home and overseas. A deepening property market turmoil and geopolitical tensions, hindering a robust post-COVID comeback.

Nevertheless, the positive growth over the past three consecutive months might indicate the worst is over, industry experts said while expecting enterprises to remain highly sensitive to input costs moving forward. 

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