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Financial News: China Industrial Profits Decline In April

China Industrial Profits Decline In April

05/26/2019 - 23:18:00 (RTTNews)

(RTTNews) - China's industrial profits decreased in April, data from the National Bureau of Statistics showed Monday.

In April, profits of large industrial firms declined 3.7 percent on year in contrast to an increase of 13.9 percent growth in March.

Industrial profits fell 3.4 percent in the first four months of 2019 from the same period of last year compared to a decrease of 3.3 percent in three months to March.

Zhu Hong of the statistics bureau said the decline in profits in April was driven by the timing of Value Added Tax cut.

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