NBS: Chinese industrial firms’ profits down 8% by July
Aug 27, 2020 13:30
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China’s sizeable industrial firms still posted a 8.1% on-year decline in their gross profits for the first seven months of 2020, though the drop narrowed by 4.7 percentage points from that in the first half of 2020, according to the latest release by the country’s National Bureau of Statistics (NBS) on Thursday.
The narrowing in decline on year by the end of July was mainly due to the further improvement in the performance in July when gross margin of all the sizeable enterprises gained 19.6% on year to Yuan 589.5 billion against the 11.5% on-year gain for June.
Among the total of Yuan