China's large industrial enterprises reduced profit by 3.7% in March


In China, the slowdown in growth in manufacturing activity in April affected the profits of large Chinese industrial companies, aggregate figure of which fell by 3.7% from the same month a year earlier to 515.4 billion yuan. This was reported by the country's National Bureau of Statistics. In March, the fastest growth rate of their profits was observed in the last 8 months, when the figure jumped 13.9%. In the first four months of the year, Chinese industrial enterprises reduced profits by 3.4% in annual terms. Their aggregate figure was 1 trillion 810 billion yuan. Between January and March, company profits fell by 3.3%. In January-April, low investments in fixed assets and weak growth in industrial production were recorded. From January to April, telecommunications companies and manufacturers of electronic equipment reduced profits by 15.3%.

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