China's National Bureau of Statistics reported that industrial profits in June increased by only 15.1% year-on-year, the slowest growth rate since the start of the year and a deceleration from May's 21.1% expansion, reflecting uneven growth in the Chinese economy. In the first half of the year, overall industrial profits rose 18.7% year-on-year, while the manufacturing purchasing managers' index for June edged up to 50.3 from 50 in May, supported by strong demand for high-tech exports amid the global artificial intelligence boom. However, urban fixed-asset investment in the first half fell 5.7% year-on-year, worse than analysts' expectations of a 4.9% decline, and gross domestic product in the second quarter expanded by only 4.3%, slowing from 5% in the first quarter and below the government's full-year growth target range of 4.5% to 5%.