Chinese enterprises' profits declined in April, the latest figures from the National Bureau of Statistics showed Sunday.
Profits fell 2.2 percent year-on-year to CNY 407.6 billion. During the first four months of the year, corporate profits were down 1.6 percent.
Last week, China's State Council warned that the economy is currently facing "increasing downward pressure." It also pledged to accelerate fine-tuning of its policies to achieve more stable growth.
China Banking Regulatory Commission in a statement released over the weekend indicated that it will encourage more private investment in the country's banks. The regulator will now give private investors the same rights as state firms while investing in banks.
by RTT Staff Writer
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