Major Chinese industrial firms report declining profits in July: NBS

For the January to July period, these large industrial firms recorded total profits of 3.94 trillion yuan, marking a 15.5 per cent decline compared to the same period last year. However, this fall in profits narrowed by 1.3 percentage points when contrasted with the data for the first half of the year.

Out of 41 industrial categories monitored by NBS, 13 of them reported better profit performance during the seven months of the year.  Additionally, state-holding enterprises saw a slight improvement as their profit decline narrowed by 0.7 percentage points from the first six months, as per NBS.

ALCHEMPro News Desk (DP)