Xinhua: “Profits for Chinese chemical producers, automakers and other major industrial companies fell 5.2 percent in the first two 
months of 2012 from the same period a year earlier, China’s statistical authority said Tuesday.
Total profits for the largest industrial companies, or those with annual revenues above 20 million yuan 3.17 million U.S. dollars, stood at 606 billion yuan during the first two months, the National Bureau of Statistics said in a statement on its website.The data highlighted the impact of the sluggish global economic recovery on Chinese companies, especially state-owned enterprises, as exports have slowed due to waning external demand.
The data also represents a significant drop from a 34.3-percent increase registered in the first two months of 2011.”
via Major Chinese industrial companies profits drop 5.2 pct – Xinhua | English.news.cn.
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