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BEIJING (Reuters) -Profits at China's industrial firms fell 2.3% in 2023, their second straight yearly decline, due to sluggish demand at home and abroad, adding pressure on economic growth amid a deep property slump and deflationary risks. The drop followed a 4.4% profit fall in the first 11 months from the same period a year earlier, according to data from the National Bureau of Statistics (NBS) on Saturday. Last year's profits decline was chiefly due to sharply lower factory-gate prices, driven by over-capacity in some industries, said economist Nie Wen at Hwabao Trust in Shanghai. ....
World News - A van’s faulty engine and its driver losing control resulted in the vehicle veering off a narrow hill path into a gorge, said a man who survived the ....
MIL-OSI China: China's fiscal revenue rebounds as pro-growth policies pay off foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
China's sustained efforts in tax breaks and value-added tax credit refunds are bringing concrete benefits to market players and this is expected to generate strong growth momentum for economic recovery for the rest of the year, officials and experts said. ....