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Coronavirus: China’s industrial firm profits increase for the first time in May

Profits at China’s big industrial firms increased in May for the first time since the coronavirus outbreak as China’s economy shows signs of recovery.In May, the profits of industrial firms saw a year-on-year increase of 6 per cent, from a decrease of 4.3 per cent year-on-year in April, data from the National Bureau of Statistics (NBS) released on Sunday showed.Total profits in May reached 582.34 billion yuan (US$82 billion).The NBS attributed the improvement in May to a significant drop in the…

Read the original article at South China Morning Post

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