Profits earned by China’s industrial companies contracted in April, down 3.7% year-on-year, after a sharp rebound in the previous month, said Reuters.
Profits in April dropped to RMB 515.4 billion ($74.80 billion), said the National Bureau of Statistics, compared with a 13.9% surge in March.
For the first four months of 2019, industrial profits dropped 3.4% on an annual basis to RMB 1.81 trillion.
Industrial firms’ liabilities grew 5.5% from a year earlier to RMB 63.87 trillion by end-April, compared with a 6.5% rise at the end of the first quarter.