China's industrial profit fall 20.6% in Jan-April
BEIJING, May 27 (Reuters) - Profits at China's industrial firms fell 20.6% in the first four months of 2023 from a year earlier, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery.
The fall followed a 21.4% profit decline in the January-March period, according to data from the National Bureau of Statistics (NBS).
Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.89 million) from their main operations. ($1 = 6.9121 Chinese yuan renminbi) (Reporting by Qiaoyi Li, Ella Cao and Bernard Orr; Editing by Kim Coghill)
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