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China's industrial profit decline quickens

Xinhua, January 27, 2016 Adjust font size:

Profits of China's major industrial firms fell 4.7 percent year on year in December, accelerating from a 1.4-percent drop registered in November, official data showed on Wednesday.

Profits at industrial companies with annual revenues of more than 20 million yuan (about 3.1 million U.S. dollars) totaled 816.7 billion yuan in December, the National Bureau of Statistics (NBS) said.

For the whole year of 2015, industrial profits of these firms dropped 2.3 percent from one year earlier to around 6.4 trillion yuan, the NBS said. Endi