China’s industrial giants remain under pressure as profits continue to decline

Profits at China’s big industrial firms continued to collapse in the first four months of the year under pressure from the economic damage caused by the coronavirus outbreak.Industrial firms saw profits fall by 27.4 per cent over the first four months of 2020.This was a further slight improvement from the 36.7 per cent drop over the first three months, and the record 38.3 per cent decline from a year ago in the first two months of 2020.In April, profits at China’s big industrial firms fell 4.3…

from South China Morning Post https://www.scmp.com/economy/china-economy/article/3086246/chinas-industrial-giants-remain-under-pressure-profits