The drop in China’s industrial profits was larger than the 37.3 per cent contraction in the first two months of 2009 amid the global financial crisis, at a time when China had just rolled out its 4 trillion yuan (US$56 billion) stimulus package. Photo: Xinhua
Coronavirus: China’s industrial firms’ profits plummeted almost 40 per cent at start of 2020
- Profits plummeted 38.3 per cent from a year ago in the first two months of 2020 to 410.7 billion yuan (US$56 million)
- A total of 37 out of the 41 industrial divisions witnessed a decline with China as virus containment measures weighed on the economy
The drop in China’s industrial profits was larger than the 37.3 per cent contraction in the first two months of 2009 amid the global financial crisis, at a time when China had just rolled out its 4 trillion yuan (US$56 billion) stimulus package. Photo: Xinhua
