Profits in the car manufacturing sector slumped 25.9 per cent, as China’s car sales fell 15 per cent year-on-year in April, the 10th consecutive monthly decline. Photo: Xinhua
China’s industrial profits post biggest drop in nearly three and a half years
- April’s 3.7 per cent drop, the largest decline since December 2015, led by state-owned industrial firms, whose profits dropped 9.7 per cent
- Date comes as a further blow to the Chinese economy in the month before the escalation of the trade war with the United States
Topic |
China economy
Profits in the car manufacturing sector slumped 25.9 per cent, as China’s car sales fell 15 per cent year-on-year in April, the 10th consecutive monthly decline. Photo: Xinhua