BEIJING — Profits of major Chinese industrial firms dropped 0.3 percent year-on-year in June, down from 0.6 percent growth posted in May, the National Bureau of Statistics (NBS) said on Monday.
Profits at industrial companies with annual revenues of more than 20 million yuan (USD3.27 million) totaled 588.6 billion yuan in June.
Industrial profits of these firms reached 2.84 trillion yuan in the first half of the year, down 0.7 percent year on year, the NBS said. The decline narrowed 0.1 percentage points from the rate seen in the January-May period.