China industrial profit growth decelerates as economic recovery declines

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
Growth in profits of Chinese industrial companies slowed down in March, indicating that the recovery of state's economy is losing steam. It is said that net income rose 5.3% from a previous year to 464.9 billion Yuan ($75 billion), compared to 17.2% growth in the first two months, during which profit increased 12.1% to 1.17 trillion Yuan. Due to investors' concerns that the country's economic recovery loses its pace and would negatively influence corporate earnings, China's stocks dropped for the third straight month in April.
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