Senior National Bureau of Statistics (NBS) statistician Zhu Hong attributed the improvement in May to the profit recovery of major equipment manufacturing and coal industries. Photo: AFP

China’s industrial giants continue to struggle despite minor profit increase in May

  • Profits fell 2.3 per cent year on year in the first five months of the year, the National Bureau of Statistics said on Thursday
  • Month-on-month, May’s date showed a 1.1 per cent rise to 565.56 billion yuan (US$82 billion) from a year earlier compared with a 3.7 per cent fall in April
Topic |   China economy

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Senior National Bureau of Statistics (NBS) statistician Zhu Hong attributed the improvement in May to the profit recovery of major equipment manufacturing and coal industries. Photo: AFP
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Orange Wang

Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.