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China July industrial profits slip 2.9% y-o-y

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Profits earned by Chinese industrial companies declined 2.9 per cent in July from a year ago, official data showed on Friday, underlining the weakness in the world's second-largest economy.

[BEIJING] Profits earned by Chinese industrial companies declined 2.9 per cent in July from a year ago, official data showed on Friday, underlining the weakness in the world's second-largest economy.

It was the second biggest drop in industrial profits since a total 4.2 per cent decrease in January-February. Profits were down 1 per cent in the first seven months of the year compared with the year-ago period.

REUTERS