China’s Industrial Profits Keep Plunging as Prices Decline
- Companies’ losses are ‘still high,’ NBS statistician says
- Foreign firms continue to lag behind others with 24.9% fall
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Profits at industrial firms in China continued to plunge in the first three months of the year, as a pickup in factory production failed to offset a further decline in prices.
Industrial profits in the January-March period declined 21.4% from a year earlier, the National Bureau of Statistics said Thursday. The drop narrowed only slightly from a fall of 22.9% in the first two months of 2023.