Profits at China’s state-owned firms shrink 5.1% y/y in 2022

Profits at China's state-owned firms shrink 5.1% y/y in 2022
FILE PHOTO: People cycle on a road at the Central Business District (CBD) in Beijing, China May 16, 2022. REUTERS/Tingshu Wang

BEIJING : Profits at Chinese state-owned firms fell 5.1 per cent year-on-year in 2022 to 4.3 trillion yuan ($637.01 billion), according to data from the Finance Ministry on Monday.

The decline was steeper than the 4.4 per cent fall in the first 11 months of 2022.

($1 = 6.7503 Chinese yuan renminbi)

 

 

Source: Reuters