Industrial Profit
China’s major industrial firms reported a smaller profit decline in May, data from the National Bureau of Statistics (NBS) showed.
Industrial firms each with an annual main business revenue of at least 20 million yuan ($2.77 million) saw their combined profits stand at 635.81 billion yuan ($88.06 billion) that month, down 12.6 percent from a year ago, narrowing from the 18.2-percent drop in April.
Industrial production continued to improve, and business profits maintained their recovery trend in May, NBS statistician Sun Xiao said.
The manufacturing sector posted better performance that month thanks to an array of supporting policies, with its profit decline narrowing 7.4 percentage points
