China's industrial profits grew at slower pace in May as base effects ease, rising commodity prices put squeeze on downstream businesses

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China’s industrial profits grew at a slower pace in May as the base effects a year ago by the coronavirus pandemic eased and many businesses' operations were strained by rising costs.

Industrial profits rose 36.4 per cent in May from a year earlier, up 44.6 per cent from the same period in 2019, leaving two-year growth rate at 20.2 per cent, showed data released by the National Bureau of Statistics on Sunday, compared with a 57 per cent increase in the previous month.

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