Profits of China’s industrial firms above designated scale contracted in April but at a slower pace than last month, with more than half of the sectors seeing growth, suggesting domestic production is being gradually resumed amid the COVID-19 pandemic.
China’s industrial firms earned 478.14 billion yuan ($66.95 billion) in April, down 4.3 percent on a yearly basis, according to data released by the National Bureau of Statistics (NBS) on Wednesday.
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