China's industrial profits return to growth for first time since November 2019

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The profits of Chinese industrial enterprises returned to growth in May for the first time since November 2019, in a further sign that the world's second largest economy is continuing to recover from coronavirus lockdowns.

Industrial profits increased 6 per cent to 582.34 billion yuan ($82 billion) in May from a year earlier, according to data from the National Bureau of Statistics on Sunday, marking a sharp improvement from a drop of 4.3 per cent in the previous month.

For the first five months of the year, industrial profits contracted 19.3 . . .

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