China's industrial profits down in Q1

A robot works at the workshop of Harbin Electric Machinery Company Limited of Harbin Electric Corporation in Harbin, capital of northeast China's Heilongjiang Province, March 29, 2023.(Xinhua/Xie Jianfei)

BEIJING, April 27 (Xinhua) -- Profits of China's major industrial firms fell 21.4 percent year on year in the first quarter of the year, data from the National Bureau of Statistics showed Thursday.

Industrial firms with annual main business revenue of at least 20 million yuan (about 2.9 million U.S. dollars) saw their combined profits at about 1.52 trillion yuan in the period. ■