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NBS: China industrial firms' profits fall narrows in May

ABSTRACT

Sizeable industrial enterprises across China posted a narrower decline in their profits in May, down 6.5% on year as against the 8.5% on-year contraction for April, data from the country's National Bureau of Statistics (NBS) on Monday showed.
"In May, prevention and control of the pandemic had gradually improved, and progress was achieved in production resumption among enterprises and freeing up logistics," commented Zhu Hong, a senior statistician with the NBS.   For May, gross profits of these industrial enterprises totalled Yuan 782.8 billion ($117 billion), Mysteel Global calculated based

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