BEIJING : China's industrial firms' profits shrank at a slightly slower pace in January-March but the decline remained in the double-digits as the economy struggled to fully recover despite the country's exit from its zero-COVID policy.
The decline compared with a 22.9 per cent slump in industrial profit in the first two months, data from the National Bureau of Statistics showed. Industrial earnings fell 4.0 per cent in 2022, and the latest data underline the gloomy conditions facing China's vast factory sector as global demand is hit by slowing world growth.
Retail, services and infrastructure spending have gathered pace, while factory output has lagged amid weak global growth. An unexpected surge in China's exports in March was considered unlikely to sustain due to the weakening global outlook.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China to replace PCR test requirement with antigen test for inbound travellersBEIJING - China's foreign ministry said on Tuesday (April 25) that all inbound travellers will only need to show Covid-19 antigen tests result taken within 48 hours before boarding flights starting April 29, dropping the PCR test requirement. Currently, China requires inbound traveller from some countries to take PCR tests before entering the country. ALSO READ: Travel to China now...
Source: asiaonecom - 🏆 10. / 59 Read more »
Brazil Congress prepares for inquiry into Jan 8 capital stormingBRASILIA: Brazil's Congress on Wednesday (Apr 26) prepared to open an inquiry into the Jan 8 storming of key government buildings in the capital by violent demonstrators who denied the electoral victory of the recently inaugurated President Luiz Inacio Lula da Silva. Lula and his allies in parliament have
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Brazil Congress opens inquiry into Jan 8 capital stormingThe parties began selecting the 16 senators and 16 representatives who will sit on the committee. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
China completes landmark national real estate registration systemBEIJING : China has finished building a national and unified system for real estate registration, the official Xinhua news agency reported on Tuesday, in a landmark move that will boost transparency in ownership. In 2014, China issued rules requiring real estate owners to register their holdings with auth
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China to replace PCR COVID-19 test requirement with antigen test for inbound travellersBEIJING: China's foreign ministry said on Tuesday (Apr 25) that all inbound travellers will only need to show COVID-19 antigen test results taken within 48 hours before boarding flights starting Saturday, dropping the PCR test requirement. Currently, China requires inbound travellers from some countries to
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China unveils plan to build satellite system for space explorationBEIJING : China will start building relay satellites that by 2030 will act as a communication bridge between missions to the moon and beyond, and ground operations on Earth, Chinese state media reported on Wednesday. A pilot of the satellite constellation will support China's ongoing lunar exploration pro
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »