中国金融 -追踪行业风险：产能逐步合理化步入正轨China Financials-Tracking Industrial Risks Gradual capacity rationalization on track

August 1, 2025 09:34 AM GMT China Financials | Asia Pacific Key Takeaways 2025) Industrial profit growth remained negative, down 1.8% yoy in 1H25, which was likely dragged mainly by mining rather than manufacturing (which still recorded 4.5% yoy growth in 1H25, despite further weakening PPI in June). Positively, we see sequential improvement on a monthly basis, with industrial profit contraction down from -9.1% in May to -4.3% in June. By sector, data shows ongoing slowdown in capex expansion in June, with ...