China's industrial profits down 22.9% in first 2 months

Updated: Mar 27, 2023 Xinhua Print

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Employees of China State Construction Engineering Corp work on a highway project in Wuhan, Hubei province, in January. [Photo/CHINA DAILY]

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

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

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