Profits at China's state-owned firms shrink 5.1% y/y in 2022

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Profits at China's state-owned firms shrink 5.1% y/y in 2022
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BEIJING : 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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