Economics
China Stocks Fall Most in 3 Weeks on Debt Audit, Slowing Profits
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China’s stocks fell the most in three weeks after industrial companies reported slower profit growth and the government ordered a review of state borrowings amid concern potential bad debts may weigh down the economy.
Industrial Bank Co. and Huaxia Bank Co. slumped at least 2 percent, sending a gauge of financial companies to the biggest loss among industry groups. Anhui Conch Cement Co. plunged 6.3 percent, dragging down material producers. PetroChina Co., the nation’s biggest energy company, declined the most in two weeks.