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
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

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
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
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