China’s industrial profits fall due to Covid-19 measures and bad weather

China’s industrial profit fell in the first seven months of the year, reversing a year-on-year increase in the first half as sporadic Covid-19 outbreaks and inclement weather weighed on the world’s second largest economy.

Industrial profit fell 1.1% from a year earlier in the January-July period, offsetting a 1% increase in the first half of the year, the National Bureau of Statistics said on Saturday. .