China's industrial profits falls 1.1% in first 7 months



Profits of China's major industrial enterprises fell by 1.1 percent year on year in the January-July period, according to official data released on Saturday.

In the first seven months of 2022, the combined profits at industrial enterprises with an annual revenue of at least 20 million yuan ($2.92 million) reached 4.89 trillion yuan, the National Bureau of Statistics said.

The figure reversed the 1-percent gain in the first six months and data for July alone has not been provided yet.