Chinese Firms Post Declining Profits
BEIJING -- Despite some recent signs of improvement in China's economy, profits at many Chinese companies continued to deteriorate in the first two months of the year, new data show.
Profits of China's industrial companies in the January-February period fell 37% from a year earlier to 219.1 billion yuan (around $32.1 billion), the National Bureau of Statistics said Friday.
The drop contrasts with a year-to-year increase of 16.5% in the first two months of 2008 and was steeper than a 27% profit decline in the three months to November. While the performance in the coal and oil sector improved, profitLabels: Chinese Firms
posted by SEAGAMES 2009 @ 7:16 AM,
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