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China May industrial profits fall 6.5% y/y

por Magdalena Duckworth (10/07/2022)

BEIJING, June 27 (Reuters) - Profit at China's industrial firms in May fell 6.5% from a year earlier, less than the 8.5% slump logged in April, esenyurt escort the National Bureau of Statistics said on Monday.

Industrial profit grew 1.0% in January-May compared with a 3.5% gain in the first four months.

The industrial profits data covers large firms with annual revenues above 20 million yuan ($2.98 million) from their main operations.
($1 = 6.7190 Chinese yuan) (Reporting by Ella Cao, Ellen Zhang and Ryan Woo; Editing by Sam Holmes and Jacqueline Wong)