According to data released by the National Bureau of Statistics (NBS), Chinese industrial profits fell 3.6% in January-November from a year earlier to $1.11 trillion due to restricted factory activity and supply chain disruptions. The country’s strict COVID policy has impacted production.
However, analysts predict a robust recovery next year. JP Morgan analysts expect China's reopening to have a shorter period of transitional pain in the first quarter of 2023, followed by recovery from the second quarter.
