Chinese shares close lower Wednesday

Chinese stocks closed lower on Wednesday, with the benchmark Shanghai Composite Index down 1.76 percent to 3,800.35 points. The Shenzhen Component Index closed 1.43 percent lower at 12,295.07 points. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.69 percent to close at 2,723.20 points Wednesday.

Profits of China's major industrial firms increased by 0.1 percent year on year in the first 11 months of 2025, official data showed on Saturday.

In the January-November period, the industrial firms each with an annual main business revenue of at least 20 million yuan (about 2.8 million U.S. dollars) saw their combined profits reach nearly 6,626.86 billion yuan (945.79 billion U.S. dollars), according to the latest official data released by the National Bureau of Statistics (NBS).

In the 11-month period, the total profits of equipment manufacturing enterprises nationwide increased by 7.7 percent year on year. Seven out of the eight major categories within this sector achieved year-on-year profit growth.

Also in the first 11 months, the profits of high-tech manufacturing companies rose by 10 percent year on year, with those of the manufacturing sector of specialized equipment for semiconductor devices, the manufacturing sector of aerospace-related equipment and the intelligent in-vehicle device manufacturing sector surging by 97.2 percent, 192.9 percent and 105.7 percent respectively.

From January to November, the profits of the major raw materials manufacturing industry saw a year-on-year increase in profits of 16.6 percent. In particular, the iron and steel sector saw its profits significantly rise and the non-ferrous metal sector kept a two-digital growth in revenue in the first 11 months.