The manufacturing sector, in particular, saw a notable improvement in May due to a series of supportive policies introduced by the government. The rate of profit decline in this sector was 7.4 percentage points less than that of April, showcasing signs of a potential turnaround.
In a broader context, the profits of Chinese industrial firms suffered a year-on-year dip of 18.8 per cent during the first five months of the year. However, this is a 1.8 percentage point improvement compared to the decrease observed from January to April. The total revenue for these firms displayed a marginal increase of 0.1 per cent.
ALCHEMPro News Desk (DP)
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