China’s industrial profits grew slower in first quarter
Industrial profits in China fell in March and growth slowed in the first quarter compared to the same period a year ago.
Industrial profits rose 4.3 percent on an annual basis in the January-March period, compared to an annual increase of 10.2 percent in January and February, according to data from China’s National Bureau of Statistics.
In the statement made by the National Bureau of Statistics, it was stated that the high-tech manufacturing industry led growth with a 29.1 percent increase in profits in the first quarter, while the recovery in companies’ profits was unbalanced.