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Business > Foreign Business
Industrial firms' profits improved in May
By Xinhua News Agency
Jun 29, 2022 12:11 am

BEIJING: The earnings of China's major industrial companies declined at a slower pace in May as factories in the world's second-largest economy resumed production and business sentiment improved, official data showed on Monday.

Major industrial firms with revenues of at least 20 million yuan (about $2.99 million) saw their collective profit slip 6.5 percent year on year last month, an improvement from the 8.5-percent fall in April, according to figures from the National Bureau of Statistics (NBS).

Workers in protective suits make medical gear at a factory in China’s eastern Shandong province on Sunday, June 26, 2022. XINHUA PHOTO

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