China's industrial profit growth slows in Jan-April

Profit growth of China's major industrial firms slowed during the first four months of 2022, weighed down by the resurgence of domestic COVID-19 cases, official data showed on Friday.

Profits of the firms each with annual main business revenue of at least 20 million yuan (about 2.97 million U.S. dollars) grew 3.5 percent year on year in the January-April period, down from the 8.5-percent pace recorded in the first three months, said the National Bureau of Statistics.