By Reuters Staff
3 Min Read
BEIJING (Reuters) -Profit growth at China’s industrial firms slowed for the fourth straight month in June, as high raw material prices weighed on factories’ margins, pointing to some weakness in the recovery of the world’s second-biggest economy.
FILE PHOTO: Employees work on the production line of American infant product and toy manufacturer Kids II Inc. at a factory in Jiujiang, Jiangxi province, China June 22, 2021. REUTERS/Gabriel Crossley
Industrial firms’ profits rose 20% year-on-year in June to 791.8 billion yuan ($122.27 billion), data from the National Bureau of Statistics showed on Tuesday, after a 36.4% increase in May.
China industrial profits rise 20% y/y in June reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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China reports 76 new COVID-19 cases, Nanjing starts second mass testing reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
UPDATE 1-China reports 76 new COVID-19 cases, Nanjing starts 2nd mass testing Reuters 5 hrs ago City starts second round of mass testing Many positive cases based around international airport (Adds details on Jiangsu cases)
BEIJING, July 26 (Reuters) - China reported 76 new COVID-19 cases on July 25, up from 32 cases a day earlier, as Nanjing city starts a second round of mass testing.
China has taken a zero-tolerance approach to COVID cases, quickly tracing and testing wide swathes of its population to prevent the spread of the virus.
Local infections accounted for 40 of the new cases, compared with only five a day earlier, the National Health Commission said in a statement on Monday.