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Profits at China’s industrial firms slumped in the first two months of the year to their lowest in at least a decade, with the mining, manufacturing and power sectors all seeing sharp falls, offering fresh evidence of the overwhelming impact of the coronavirus on the world’s second largest economy.
Profits generated by Chinese industrial companies in the first two months dropped 38.3 per cent from a year earlier to 410.7 billion yuan, worsening from a 6.3 per cent drop in December last year, the National Bureau of Statistics (NBS) data showed. It . . .
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