BEIJING – China's industrial firms' profits shrank at a slightly slower pace in January-March but the decline remained in the double-digits as the economy struggled to fully recover despite the country's exit from its zero-COVID policy. Profits at these firms fell 21.4 percent in the first three months from a year earlier, cumulative data released by the statistics bureau showed on Thursday, as the factory sector remained underpowered by the crippling pandemic. The decline compared with a 22.9- percent slump in industrial profit in the first two months, data from the National Bureau of Statistics (NBS) showed.

https://business.inquirer.net/397841/china-jan-mar-industrial-profit-slump-underlines-slow-economic-recovery

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