China Defence Minister Dong Jun has been placed under investigation as part of a wide-ranging anti-corruption probe that has roiled the top ranks of the People's Liberation Army, the Financial Times reported on Wednesday.

Neither Beijing's foreign ministry nor its embassy in Washington replied to AFP's request for confirmation on Wednesday morning.

If confirmed, Dong would be the third consecutive serving or former Chinese defence minister to be investigated for alleged corruption.

China's industrial profits dropped by 10% in October from a year ago, in another sign that Beijing's stimulus measures have yet to reverse a slump in corporate earnings. That followed a 27.1% year-on-year decline in September,

China's October industrial profits narrowed their earlier declines, helped by a low base the previous year, official data showed on Wednesday, but headwinds on earnings remain stiff with the economy still battling weak demand and deflation pressures.

Chinese authorities have introduced a series of stimulus measures to boost economic growth and shore up market confidence, including cutting interest rates and injecting liquidity into the financial system.

China's Ding Liren beat teenager Gukesh Dommaraju of India in the opening round of the world chess championship in a major confidence boost for the title holder on Monday. Ding, whose form has plummeted since he beat Russian Ian Nepomniachtchi to claim the crown in 2023,

Defending champion Ding Liren of China on Monday ended a long winless run to beat teenage challenger Gukesh Dommaraju of India in the opening game of their World Chess Championship match.