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Reuters SUN YILEI
The Chinese National Statistics Authority data showed that the profits of the country’s major industrial companies witnessed rapid growth in the first two months of this year, as the economy recovered from the effects of the Covid-19 pandemic.
Industrial companies with annual sales of at least 20 million yuan (about 3.06 million US dollars) reported an increase in their consolidated profits by 179 percent year on year from January to February, reaching 1.11 trillion yuan.
Compared to the first two months of 2019, the number represents an increase of 72.1%. The aforementioned authority data showed that the average growth rate in the past two years was 31.2%.
Source: “Xinhua”
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