Major Chinese industrial companies’ profits fell last month by the most since October, according to official data, in the latest sign of economic stress to emerge amid trade tensions with the US.
Profits across companies with revenues of more than Rmb20mn ($2.8mn) dropped 9.1 per cent in May on the same month last year, the National Bureau of Statistics reported on Friday.
The reading showed a steady 1.4 per cent cumulative profit growth from January to April swinging to a 1.1 per cent decline in May.
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