China's industrial profits narrow declines to 1.5% in July as Beijing clamps down on price wars | Metals Mine

  • China's industrial profits narrow declines to 1.5% in July as Beijing clamps down on price wars

    From msn.com

    China's industrial profits slipped 1.5% from a year earlier in July, marking a notable recovery following months of steeper declines, signaling Beijing's campaign against price wars has helped ease the strain on company profitability. The profit decline narrowed in July following a 4.3% slump in June and a 9.1% drop in May, as the government pledged tougher regulations to the punishing price wars that have hurt firms' financial health. Profits at major industrial firms fell 1.7% in the first seven months this year, according to data from the National Bureau of Statistics on Wednesday, in part dragged down by the ... (full story)

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