China's industrial profits weaken sharply in December, post first annual drop in four years

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China’s industrial companies see profits weaken sharply in December and their full-year profits dropped in 2019, the first annual decline in four years, as the economic slowdown and a trade war with the US hit the country’s factories.

Profits generated by the country’s industial companies fell 3.3 per cent in 2019 from the previous year to 6.1996 trillion yuan ($897.96 billion), compared with the 2.1 per cent dip in the January-November period, showed data released by the National Bureau of Statistics (NBS) on Monday. It’s the first . . .

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