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China's industrial profits recovered in July despite escalating trade disputes, data from the National Bureau of Statistics showed Tuesday.
Industrial profits increased 2.6 percent year-on-year in July, in contrast to a 3.1 percent fall in June.
Nonetheless, industrial profits decreased 1.7 percent in January to July period from the same period last year. This was slower than the 2.4 percent decline seen in the first half of 2019.
The negative impact of the trade war was masked by supportive fiscal stimulus in the form of railway construction, Iris Pang, an ING economist said. The economist said the risks faced by manufacturers have not gone away.
The central bank can offer more targeted liquidity for small private firms to keep them liquid. Policies could be targeted at the medium term lending facility and/or targeted RRR, Pang added.
