Profits earned by Chinese industrial companies fell in August at the sharpest rate in four years.<br /><br /> Official figures show a drop of 8.8 percent compared to last year. For the first eight months of the year profits were down 1.9 percent.<br /><br /> The latest sign of weakness in the world’s second largest economy comes amid rising costs, falling product prices and China’s stock market slump.<br /><br /> Spending by industrial firms rose by almost a quarter in August compared to last year.<br /><br /> The figures show the mining industry took a particular hit – with profits falling by 57.3 percent in the first eight months of the year – while state-owned firms were the worst performers among all companies.
