BEIJING: Profit at China's industrial firms in 2022 fell 4 per cent from a year earlier, official data showed on Tuesday (Jan 31), squeezed by the impact of strict COVID-19 containment measures and a slump in the property market. At 8.4 trillion yuan (US$1.24 trillion), the decline compared with the 3.6 pe
BEIJING: Profit at China's industrial firms in 2022 fell 4 per cent from a year earlier, official data showed on Tuesday , squeezed by the impact of strict COVID-19 containment measures and a slump in the property market.
Economists expect economic activity to normalise this year, supported by recovery in consumption and travel, though some said declining foreign demand may cause the manufacturing sector to underperform. The NBS manufacturing purchasing managers' index showed factory activity rebounded in January, supported by the easing of the latest wave of COVID-19 infection cases.
At a meeting chaired by Premier Li Keqiang, the cabinet on Saturday said China should aim at helping its economy pick up in early 2023, focusing on consumption recovery as a major driver.
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Chinese industrial profit contracts in 2022 on COVID woesBEIJING : Profit at China's industrial firms in 2022 fell 4 per cent from a year earlier, official data showed on Tuesday, squeezed by the impact of strict COVID-19 containment measures and a slump in the property market.At 8.4 trillion yuan ($1.24 trillion), the decline compared with the 3.6 per cent fal
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China's 2022 fiscal revenue growth skids as COVID jolts economyBEIJING : China's fiscal revenue rose 0.6 per cent in 2022 from a year earlier, slowing sharply from a 10.7 per cent increase in 2021 due to huge tax rebates for businesses to support the COVID-ravaged economy, data from the finance ministry showed on Monday.Fiscal revenues totalled 20.37 trillion yuan ($
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Profits at China's state-owned firms shrink 5.1% y/y in 2022BEIJING : Profits at Chinese state-owned firms fell 5.1 per cent year-on-year in 2022 to 4.3 trillion yuan ($637.01 billion), according to data from the Finance Ministry on Monday.The decline was steeper than the 4.4 per cent fall in the first 11 months of 2022.($1=6.7503 Chinese yuan renminbi)
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China says COVID-19 situation at 'low level' after Chinese New Year holidayBEIJING: China said on Monday (Jan 30) that the COVID-19 situation in the country was at a 'low level', and that fever clinic visits due to the coronavirus during Chinese New Year dropped about 40 per cent from before the week-long holiday. 'The overall epidemic situation in the country has entered a low l
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China's 2022 smartphone shipments the lowest in 10 years - research firmSHANGHAI : China's smartphone sales fell 13 per cent year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday.The total number of devices shipped was 286 million, down from 329 million in 2022. That meant total 2022 s
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China's 2022 smartphone shipments the lowest in 10 years - research firmSHANGHAI : China's smartphone sales fell 13 per cent year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday.The total number of devices shipped was 286 million, down from 329 million in 2022. That meant total 2022 s
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