China’s Industrial Profits Slow to 21.1% Growth as Apple Seeks CXMT Chip Approval
BIDU•China’s industrial profits rose 21.1% in May, down from April’s 24.7%, with computer and electronics firms’ January-May profits surging 103.9%. Apple is lobbying US officials to approve memory chip purchases from blacklisted CXMT to curb soaring component costs and avert further device price increases.
1. China’s Industrial Profit Trends
Major industrial firms reported a 21.1% year-on-year profit increase in May, down from April’s 24.7% growth. Computer, communications and electronics manufacturers led the surge with January-May profits up 103.9%, driven by robust export demand for AI-related products.
2. Apple’s CXMT Chip Approval Effort
Apple is lobbying US officials for permission to buy memory chips from blacklisted supplier CXMT to offset unprecedented cost increases. A successful approval could ease supply constraints and moderate device price hikes, influencing component availability for Chinese tech companies.
