BEIJING, Jan 31 (Reuters) - Profits at China's
industrial firms fell 4.0% in 2022 from a year earlier,
according to data from the National Bureau of Statistics (NBS)
on Tuesday.
The NBS did not release figures for December alone. Profits
had contracted 3.6% in the first 11 months, versus a year
earlier.
China's economic growth in 2022 slowed to one of its weakest
rates in nearly half a century as the economy was hit hard by
strict COVID-19 curbs and a property market slump.
Industrial profits data covers firms with annual revenues
above 20 million yuan ($3 million) from their main operations.
($1 = 6.7575 Chinese yuan renminbi)
(Reporting by Ellen Zhang, Ella Cao and Ryan Woo; Editing by
Bradley Perrett and Kim Coghill)
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