Profits gained by Chinese industrial enterprises declined in the first three months of the year, figures from the National Bureau of Statistics showed Monday.
Industrial profits dropped 2.7 percent year-over-year in the January to March period to CNY 1.25 trillion. In the first two months of the year, profits had fallen 4.2 percent.
In March, industrial profits decreased 0.4 percent from a year ago to CNY 508.61 billion.
Among sub sectors, profits earned by mining industry tumbled 61 percent in the March quarter from a year earlier, while the manufacturing sector profits increased by 4.9 percent.
Although the pace of decline in industrial profits narrowed, industrial production and operation situation remain grim, NBS Secretary He Ping, said.
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