China's industrial profits rise 4.2% in August, missing forecasts sharply

Analysts had expected an average profit growth rate of 8 percent, according to Bloomberg.

The decline is significant compared with the profit growth rate during the first eight months of the year as a whole, which, according to the statistics office, was 15.7 percent.

Weak domestic demand and reduced investment in manufacturing, property development and the construction sector explain part of the slowdown.