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China’s industrial profits down 22.9% in first two months of the year

Profits of China's major industrial firms fell 22.9 percent year on year in the first two months of 2023, Xinhua reported, quoting data from the National Bureau of Statistics (NBS) Monday.

Industrial firms with annual main business revenue of at least 20 million yuan (about $2.91 million) saw their combined profits reach about 887.21 billion yuan in the period, NBS said.

Source: Saudi Press Agency