China's industrial profit slump narrowed in June

Phnom Penh, July 28, 2023 -

China's major industrial companies reported modest profit declines in June, official data showed on Thursday.

Industrial companies with annual business revenue of at least 20 million yuan (about 2.81 million US dollars) saw their combined profit stand at 719.76 billion yuan last month, down 8.3%. Compared to the previous year, which narrowed from a decline of 12.6% in May.